Is Nisswa, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Nisswa is a neutral's market

Buyer's
Market

Difference Since November 2023

Since last year, Nisswa has remained a Neutral 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

$575,000

$300/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$57,500(-9.1%)

Key Takeaway

Homes in Nisswa have sold for 9.1% less than they did a year ago.

Summary: The median home sold price in Nisswa was $575,000 in November 2024, down 9.1% from last year, and the median price per square foot was $300.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $315K$390K
+23.8%
2 $446K$315K
-29.4%
3 $535K$535K
0.0%
4 $742.5K$733.9K
-1.2%
5+ $1.0M$1.3M
+25.5%

Summary: Nisswa housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 25.5%.

Median Sold Price Compared To Nearby Cities

Nisswa
-9.1%
Pequot Lakes
-10.7%
Pequot Lakes
-11.2%
Lake Edward Township
-16.0%

Housing Supply in Nisswa, MN

How many homes are available in Nisswa, MN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4940-18.4%

Summary: The Nisswa real estate market had 40 homes for sale in November 2024, a 18.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1916
-15.8%
4 109
-10.0%
5+ 139
-30.8%

Summary: The Nisswa housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 30.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
156-60.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Nisswa, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Nisswa in November 2024, down by 60.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% 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

Nov 2023Nov 2024CHANGE
18 Days63 Days+253.7%

Summary: Homes in Nisswa had an average of 63 days on market in Nov 2024, up by 253.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 6 homes were sold in Nisswa; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 10 Days Ago

Newest Listings in Nisswa, MN

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