Is New Richland, 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, New Richland was a Buyer's Market.
Key Takeaway
New Richland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Richland, MN
How much do homes in New Richland, MN cost?
Median Sold Price
$329,950
$155/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in New Richland have sold for 30.7% less than they did a month ago.
Summary: The median home sold price in New Richland was $329,950 in March 2024, down 30.7% from last month, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $476K | $149.9K | -68.5% |
| 4 Bedrooms | - | $510K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: New Richland housing prices by bedroom type for March 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 68.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| New Richland | $476K | $329.9K | -30.7% |
| New Richland Township | $476K | $329.9K | -30.7% |
Housing Supply in New Richland, MN
How many homes are available in New Richland, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The New Richland real estate market had 11 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The New Richland 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Richland, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in New Richland in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for New Richland, MN
How long does it take to sell a home in New Richland, MN?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Richland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in New Richland; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
