Is Lyon County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lyon County was a Seller's Market.
Key Takeaway
Lyon County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lyon County, MN
How much do homes in Lyon County, MN cost?
Median Sold Price
$185,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lyon County have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Lyon County was $185,000 in March 2024, down 2.9% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133.7K | $145K | +8.4% |
| 2 Bedrooms | $110K | $97K | -11.8% |
| 3 Bedrooms | $180K | $163.5K | -9.2% |
| 4 Bedrooms | $201.7K | $250K | +23.9% |
| 5+ Bedrooms | $331.7K | $264K | -20.4% |
Summary: Lyon County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes decreased by 20.4%.
Median Sold Price Compared To Nearby Counties
| Yellow Medicine County | $134.9K | $145K | +7.5% |
| Murray County | $121.2K | $129.9K | +7.1% |
| Lincoln County | $122.5K | $130K | +6.1% |
| Redwood County | $139.4K | $142.5K | +2.2% |
| Lyon County | $190.5K | $185K | -2.9% |
Housing Supply in Lyon County, MN
How many homes are available in Lyon County, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 64 | 65 | +1.6% |
Summary: The Lyon County real estate market had 65 homes for sale in March 2024, a 1.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 13 | -7.1% |
| 3 Bedrooms | 28 | 26 | -7.1% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Lyon County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lyon County, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Lyon County in March 2024, down by 18.2% month-over-month. Of the 9 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Lyon County, MN
How long does it take to sell a home in Lyon County, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 56 Days | -22.0% |
Summary: Homes in Lyon County had an average of 56 days on market in Mar 2024, down by 22% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lyon County has remained consistent over time.
Summary: During March 2024, 9 homes were sold in Lyon County; 22% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
