Is Martin County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Martin County has remained a Seller's 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
$163,500
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Martin County have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Martin County was $163,500 in June 2024, up 11.2% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.6K | $80K | +29.8% |
| 2 Bedrooms | $100.6K | $117.5K | +16.8% |
| 3 Bedrooms | $150K | $165K | +10.0% |
| 4 Bedrooms | $195.7K | $254.9K | +30.2% |
| 5+ Bedrooms | $169K | $255K | +50.9% |
Summary: Martin County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.8%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 30.2%, and 5+ bedroom homes increased by 50.9%.
Median Sold Price Compared To Nearby Counties
| Martin County | $147K | $163.5K | +11.2% |
| Faribault County | $126K | $137.2K | +8.9% |
Housing Supply in Martin County, MN
How many homes are available in Martin County, MN?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 83 | 95 | +14.5% |
Summary: The Martin County real estate market had 95 homes for sale in June 2024, a 14.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 20 | -13.0% |
| 3 Bedrooms | 30 | 40 | +33.3% |
| 4 Bedrooms | 21 | 27 | +28.6% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Martin County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 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. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Martin County in June 2024, up by 35.7% month-over-month. Of the 19 sold homes, 42% were sold under asking, 21% were sold at asking, and 37% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 24 Days | 52 Days | +115.6% |
Summary: Homes in Martin County had an average of 52 days on market in Jun 2024, up by 115.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Martin County are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 19 homes were sold in Martin County; 63% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
