Is Martin 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, Martin County was a Neutral Market.
Key Takeaway
Martin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Martin County, MN
How much do homes in Martin County, MN cost?
Median Sold Price
$165,500
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Martin County have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Martin County was $165,500 in March 2024, up 14.2% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60.2K | $81K | +34.4% |
| 2 Bedrooms | $111.4K | $113.4K | +1.8% |
| 3 Bedrooms | $145.1K | $170K | +17.1% |
| 4 Bedrooms | $185K | $259.9K | +40.5% |
| 5+ Bedrooms | $156K | $232.7K | +49.2% |
Summary: Martin County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.4%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 40.5%, and 5+ bedroom homes increased by 49.2%.
Housing Supply in Martin County, MN
How many homes are available in Martin County, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 74 | +8.8% |
Summary: The Martin County real estate market had 74 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 28 | 28 | 0.0% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Martin County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 26.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martin County, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Martin County in March 2024, up by 85.7% month-over-month. Of the 13 sold homes, 54% were sold under asking, 23% were sold at asking, and 23% were sold over asking.
Days on Market for Martin County, MN
How long does it take to sell a home in Martin County, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 93 Days | +265.6% |
Summary: Homes in Martin County had an average of 93 days on market in Mar 2024, up by 265.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Martin County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 13 homes were sold in Martin County; 31% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 62% of homes were sold over 90 days.
