Is Morrison County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrison County is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Morrison County, MN

How much do homes in Morrison County, MN cost?

Median Sold Price

$253,737

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,487(+8.3%)

Key Takeaway

Homes in Morrison County have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Morrison County was $253,737 in February 2024, up 8.3% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $123.4K$151.5K
+22.8%
2 $165K$190K
+15.2%
3 $232K$261.8K
+12.9%
4 $270K$282.4K
+4.6%
5+ $315K$370K
+17.5%

Summary: Morrison County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.8%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 17.5%.

Median Sold Price Compared To Nearby Counties

Morrison County
+8.3%
Benton County
+4.6%
Crow Wing County
+3.2%
Todd County
0.3%
Mille Lacs County
-7.1%

Housing Supply in Morrison County, MN

How many homes are available in Morrison County, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7281+12.5%

Summary: The Morrison County real estate market had 81 homes for sale in February 2024, a 12.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 23
+50.0%
2 914
+55.6%
3 3136
+16.1%
4 2320
-13.0%
5+ 78
+14.3%

Summary: The Morrison County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 55.6%, 3 bedroom homes increased by 16.1%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1614-12.5%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morrison County, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Morrison County in February 2024, down by 12.5% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.

Days on Market for Morrison County, MN

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

Average Sale Time

Feb 2023Feb 2024CHANGE
50 Days52 Days+3.4%

Summary: Homes in Morrison County had an average of 52 days on market in Feb 2024, up by 3.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 14 homes were sold in Morrison County; 50% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% 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 27 Days Ago

Newest Listings in Morrison County, MN

Nearby Markets to Morrison County, MN

What housing markets are near Morrison County, MN?