Is Mahtomedi, 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, Mahtomedi was a Seller's Market.
Key Takeaway
Mahtomedi is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mahtomedi, MN
How much do homes in Mahtomedi, MN cost?
Median Sold Price
$471,380
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mahtomedi have sold for 14.4% more than they did a year ago.
Summary: The median home sold price in Mahtomedi was $471,380 in March 2024, up 14.4% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $309.2K | $322.2K | +4.2% |
| 3 Bedrooms | $365K | $410K | +12.3% |
| 4 Bedrooms | $491K | $540K | +10.0% |
| 5+ Bedrooms | $672.5K | $609.7K | -9.3% |
Summary: Mahtomedi housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in Mahtomedi, MN
How many homes are available in Mahtomedi, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Mahtomedi real estate market had 24 homes for sale in March 2024, a 9.1% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Mahtomedi 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 16.7%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
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 Mahtomedi, 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 Mahtomedi in March 2024, down by 50.0% 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 Mahtomedi, MN
How long does it take to sell a home in Mahtomedi, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 126 Days | +74.2% |
Summary: Homes in Mahtomedi had an average of 126 days on market in Mar 2024, up by 74.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mahtomedi are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 2 homes were sold in Mahtomedi; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
