Is Merrifield, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Merrifield was a Seller's Market.
Key Takeaway
Merrifield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Merrifield, MN
How much do homes in Merrifield, MN cost?
Median Sold Price
$500,000
$208/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Merrifield have sold for 11.4% more than they did a month ago.
Summary: The median home sold price in Merrifield was $500,000 in April 2024, up 11.4% from last month, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $592K | N/A |
| 3 Bedrooms | $449K | $350K | -22.0% |
| 4 Bedrooms | $508K | $500K | -1.6% |
| 5+ Bedrooms | $302K | - | N/A |
Summary: Merrifield housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 22%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Wolford Township | $495K | $707.5K | +42.9% |
| Merrifield | $449K | $500K | +11.4% |
| Center Township | $478.5K | $350K | -26.9% |
Housing Supply in Merrifield, MN
How many homes are available in Merrifield, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Summary: The Merrifield real estate market had 18 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Merrifield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Merrifield, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Merrifield in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Merrifield, MN
How long does it take to sell a home in Merrifield, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 25 Days | -46.5% |
Summary: Homes in Merrifield had an average of 25 days on market in Apr 2024, down by 46.5% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Merrifield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Merrifield; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
