Is Montevideo, 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, Montevideo was a Seller's Market.
Key Takeaway
Montevideo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Montevideo, MN
How much do homes in Montevideo, MN cost?
Median Sold Price
$181,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Montevideo have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in Montevideo was $181,000 in March 2024, up 13.5% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $211K | +322.0% |
| 2 Bedrooms | $125.5K | $122.9K | -2.1% |
| 3 Bedrooms | $159.5K | $187.5K | +17.6% |
| 4 Bedrooms | $185.3K | $214K | +15.5% |
| 5+ Bedrooms | $299.2K | $340K | +13.6% |
Summary: Montevideo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 322%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 13.6%.
Housing Supply in Montevideo, MN
How many homes are available in Montevideo, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Summary: The Montevideo real estate market had 37 homes for sale in March 2024, a 12.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Montevideo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 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 Montevideo, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Montevideo in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Montevideo, MN
How long does it take to sell a home in Montevideo, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 118 Days | 153 Days | +29.4% |
Summary: Homes in Montevideo had an average of 153 days on market in Mar 2024, up by 29.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Montevideo are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in Montevideo; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
