Is Nisswa, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Nisswa was a Seller's Market.
Key Takeaway
Nisswa is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Nisswa, MN
How much do homes in Nisswa, MN cost?
Median Sold Price
$582,000
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Nisswa have sold for 4.2% less than they did a year ago.
Summary: The median home sold price in Nisswa was $582,000 in April 2024, down 4.2% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251.7K | $422K | +67.7% |
| 2 Bedrooms | $301.9K | $385.5K | +27.7% |
| 3 Bedrooms | $550K | $546.6K | -0.6% |
| 4 Bedrooms | $795K | $686.4K | -13.7% |
| 5+ Bedrooms | $1.1M | $1.4M | +24.1% |
Summary: Nisswa housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.7%, 2 bedroom homes increased by 27.7%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 13.7%, and 5+ bedroom homes increased by 24.1%.
Median Sold Price Compared To Nearby Cities
| Nisswa | $607.5K | $582K | -4.2% |
| Pequot Lakes | $426.5K | $395K | -7.4% |
| Pequot Lakes | $420K | $386K | -8.1% |
Housing Supply in Nisswa, MN
How many homes are available in Nisswa, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 56 | +30.2% |
Summary: The Nisswa real estate market had 56 homes for sale in April 2024, a 30.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Nisswa housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nisswa, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Nisswa in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for Nisswa, MN
How long does it take to sell a home in Nisswa, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 74 Days | +119.6% |
Summary: Homes in Nisswa had an average of 74 days on market in Apr 2024, up by 119.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nisswa are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Nisswa; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
