Is Medina, 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, Medina was a Neutral Market.
Housing Prices in Medina, MN
How much do homes in Medina, MN cost?
Median Sold Price
$800,000
$229/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Summary: The median home sold price in Medina was $800,000 in March 2024, the same as last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $567K | N/A |
2 Bedrooms | $296K | $305K | +3.0% |
3 Bedrooms | $462.3K | $543K | +17.4% |
4 Bedrooms | $740K | $752.5K | +1.7% |
5+ Bedrooms | $1.0M | $997.5K | -2.0% |
Summary: Medina 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 3%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 2%.
Housing Supply in Medina, MN
How many homes are available in Medina, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 50 | +19.0% |
Summary: The Medina real estate market had 50 homes for sale in March 2024, a 19.0% 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 | 1 | 1 | 0.0% |
3 Bedrooms | 18 | 23 | +27.8% |
4 Bedrooms | 9 | 9 | 0.0% |
5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Medina 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 remained the same, 3 bedroom homes increased by 27.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Medina in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 81 Days | +454.6% |
Summary: Homes in Medina had an average of 81 days on market in Mar 2024, up by 454.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Medina; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.