Is New Prague, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, New Prague has remained a Seller's Market.
Key Takeaway
New Prague is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Prague, MN
How much do homes in New Prague, MN cost?
Median Sold Price
$369,950
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in New Prague have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in New Prague was $369,950 in March 2024, down 0.7% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $247K | -38.3% |
| 2 Bedrooms | $230.5K | $240K | +4.1% |
| 3 Bedrooms | $296K | $340K | +14.9% |
| 4 Bedrooms | $420K | $397K | -5.5% |
| 5+ Bedrooms | $459.6K | $470K | +2.3% |
Summary: New Prague housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.3%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 14.9%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| New Prague | $369.9K | $369.9K | 0.0% |
| New Prague | $372.4K | $369.9K | -0.7% |
Housing Supply in New Prague, MN
How many homes are available in New Prague, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 44 | +57.1% |
Summary: The New Prague real estate market had 44 homes for sale in March 2024, a 57.1% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 5 | 15 | +200.0% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The New Prague 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 increased by 66.7%, 3 bedroom homes increased by 200%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 10 | +150.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New Prague, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in New Prague in March 2024, up by 150.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 40% were sold at asking, and 10% were sold over asking.
Days on Market for New Prague, MN
How long does it take to sell a home in New Prague, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 45 Days | +36.3% |
Summary: Homes in New Prague had an average of 45 days on market in Mar 2024, up by 36.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Prague are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in New Prague; 70% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
