Is Northome, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Northome has remained a Seller's Market.
Key Takeaway
Northome is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northome, MN
How much do homes in Northome, MN cost?
Median Sold Price
$251,500
$107/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Northome have sold for 52.4% more than they did a month ago.
Summary: The median home sold price in Northome was $251,500 in May 2024, up 52.4% from last month, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | $165K | $78K | -52.7% |
| 3 Bedrooms | $215K | $425K | +97.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Northome housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 52.7%, 3 bedroom homes increased by 97.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Northome, MN
How many homes are available in Northome, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The Northome real estate market had 9 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Northome housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
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 Northome, 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 Northome in May 2024, down by 33.3% 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 Northome, MN
How long does it take to sell a home in Northome, MN?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 156 Days | 57 Days | -63.5% |
Summary: Homes in Northome had an average of 57 days on market in May 2024, down by 63.5% compared to last month.
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 Northome are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Northome; 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.
