Is Mahnomen, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Mahnomen was a Seller's Market.
Key Takeaway
Mahnomen is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mahnomen, MN
How much do homes in Mahnomen, MN cost?
Median Sold Price
$110,000
$75/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Mahnomen have sold for 57.1% more than they did a month ago.
Summary: The median home sold price in Mahnomen was $110,000 in May 2024, up 57.1% from last month, and the median price per square foot was $75.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $110K | - | N/A |
| 3 Bedrooms | $28.7K | $110K | +282.6% |
| 4 Bedrooms | $208K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Mahnomen housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 282.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Mahnomen, MN
How many homes are available in Mahnomen, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 12 | -36.8% |
Summary: The Mahnomen real estate market had 12 homes for sale in May 2024, a 36.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 14 | 10 | -28.6% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mahnomen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 2 | -71.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mahnomen, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Mahnomen in May 2024, down by 71.4% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mahnomen, MN
We’re sorry, we don't have information for this market at the moment
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mahnomen are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Mahnomen; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
