$9,916 Closing Credit*
$835,000
3,473 SqFt
3 Beds
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is Loretto, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Loretto was a Buyer's Market.
Key Takeaway
Loretto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Loretto, MN
How much do homes in Loretto, MN cost?
Median Sold Price
$532,500
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$12,500(+2.4%)
Key Takeaway
Homes in Loretto have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Loretto was $532,500 in September 2024, up 2.4% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $285K | $290K | +1.8% |
| 3 Bedrooms | $357.5K | $391K | +9.4% |
| 4 Bedrooms | $688K | $615K | -10.6% |
| 5+ Bedrooms | $710K | $875K | +23.2% |
Summary: Loretto housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 23.2%.
Housing Supply in Loretto, MN
How many homes are available in Loretto, MN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The Loretto real estate market had 16 homes for sale in September 2024, a 6.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Loretto housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Loretto, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Loretto in September 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Loretto, MN
How long does it take to sell a home in Loretto, MN?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 42 Days | 16 Days | -61.9% |
Summary: Homes in Loretto had an average of 16 days on market in Sep 2024, down by 61.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Loretto are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 3 homes were sold in Loretto; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
