Is Morrison County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Morrison County has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $123.4K | $151.5K | +22.8% |
2 Bedrooms | $165K | $190K | +15.2% |
3 Bedrooms | $232K | $261.8K | +12.9% |
4 Bedrooms | $270K | $282.4K | +4.6% |
5+ Bedrooms | $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 | $234.2K | $253.7K | +8.3% |
Benton County | $269.9K | $282.5K | +4.6% |
Crow Wing County | $335K | $345.8K | +3.2% |
Todd County | $199.5K | $200.1K | 0.3% |
Mille Lacs County | $315.1K | $292.7K | -7.1% |
Housing Supply in Morrison County, MN
How many homes are available in Morrison County, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
72 | 81 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 9 | 14 | +55.6% |
3 Bedrooms | 31 | 36 | +16.1% |
4 Bedrooms | 23 | 20 | -13.0% |
5+ Bedrooms | 7 | 8 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
16 | 14 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
50 Days | 52 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
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.