Is Medina, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medina is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Medina was a Seller's Market.

Key Takeaway

Medina is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Medina, MN

How much do homes in Medina, MN cost?

Median Sold Price

$817,500

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$7,000(+0.9%)

Key Takeaway

Homes in Medina have sold for 0.9% more than they did a year ago.

Summary: The median home sold price in Medina was $817,500 in September 2024, up 0.9% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$567K
N/A
2 $296K$325K
+9.8%
3 $470.3K$499.9K
+6.3%
4 $738.5K$791.9K
+7.2%
5+ $950K$1.0M
+14.4%

Summary: Medina housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Cities

Loretto
+2.4%
Medina
+0.9%
Hamel
-0.5%
Corcoran
-0.5%
Orono
-7.5%

Housing Supply in Medina, MN

How many homes are available in Medina, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4750+6.4%

Summary: The Medina real estate market had 50 homes for sale in September 2024, a 6.4% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1414
0.0%
4 1616
0.0%
5+ 1618
+12.5%

Summary: The Medina housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
106-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Medina, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Medina in September 2024, down by 40.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.

Days on Market for Medina, MN

How long does it take to sell a home in Medina, MN?

Average Sale Time

Sep 2023Sep 2024CHANGE
39 Days35 Days-10.1%

Summary: Homes in Medina had an average of 35 days on market in Sep 2024, down by 10.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Medina are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 6 homes were sold in Medina; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Medina, MN

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