Is Longfellow, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Longfellow has remained a Seller's Market.
Key Takeaway
Longfellow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Longfellow, MN
How much do homes in Longfellow, MN cost?
Median Sold Price
$320,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Longfellow have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Longfellow was $320,000 in April 2024, down 8.5% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230.5K | $190.7K | -17.2% |
| 2 Bedrooms | $280K | $284.9K | +1.8% |
| 3 Bedrooms | $371K | $350K | -5.7% |
| 4 Bedrooms | $438.7K | $425K | -3.1% |
| 5+ Bedrooms | $510K | $518K | +1.6% |
Summary: Longfellow housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.2%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in Longfellow, MN
How many homes are available in Longfellow, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 79 | +14.5% |
Summary: The Longfellow real estate market had 79 homes for sale in April 2024, a 14.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 13 | 16 | +23.1% |
| 3 Bedrooms | 28 | 34 | +21.4% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Longfellow housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Longfellow, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Longfellow in April 2024, the same as the previous month. Of the 22 sold homes, 32% were sold under asking, 5% were sold at asking, and 64% were sold over asking.
Days on Market for Longfellow, MN
How long does it take to sell a home in Longfellow, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 16 Days | -38.3% |
Summary: Homes in Longfellow had an average of 16 days on market in Apr 2024, down by 38.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Longfellow are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in Longfellow; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
