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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medina is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Medina has remained a Seller's Market.

Key Takeaway

Medina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Medina, MN cost?

Median Sold Price

$821,765

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$36,765(+4.7%)

Key Takeaway

Homes in Medina have sold for 4.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 $295K$298.5K
+1.2%
3 $530.1K$467.4K
-11.8%
4 $756.9K$778K
+2.8%
5+ $915K$1.0M
+16.4%

Median Sold Price Compared To Nearby Cities

Orono
+29.6%
Medina
+4.7%
Corcoran
+4.6%
Hamel
+0.8%
Loretto
-1.8%

How many homes are available in Medina, MN?

Number of Homes For Sale

Oct 2022Nov 2022%
3428-17.6%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 44
0.0%
3 97
-22.2%
4 1011
+10.0%
5+ 116
-45.5%

Number of Homes Sold

Oct 2022Nov 2022%
128-33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 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.

Average Sale Time

Nov 2021Nov 2022%
105 Days40 Days-61.9%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Medina has remained consistent over time.

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

About Medina, MN

Number of homes for sale in Medina, MN real estate market have reached 28. The number of listings in Medina, MN decreased by 17.6% between October 2022 and November 2022. In November 2022, listings were on the market for 40 days. During the same period, the median list price in this real estate market was $821,765. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went up by 1.2%, 3 bedrooms properties became 11.8% more cheaper, 4 bedrooms properties prices increased by 2.8%, 5 bedrooms properties became 16.4% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, number of 2 bedrooms homes remained the same, 3 bedrooms homes inventory decreased by 22.2%, 4 bedrooms homes became 10% more available, 5 bedrooms homes became 45.5% less available. In November 2022, from all listings sold in Medina, MN there were more than 1 sold above asking price, over 4 sold below and more than 3 were sold right at the asked price.

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