Is Norwood Young America, 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, Norwood Young America has remained a Seller's Market.
Housing Prices in Norwood Young America, MN
How much do homes in Norwood Young America, MN cost?
Median Sold Price
$302,500
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Norwood Young America was $302,500 in March 2024, up 11.4% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $249K | $233.5K | -6.2% |
3 Bedrooms | $283.7K | $305.5K | +7.7% |
4 Bedrooms | $255K | $314K | +23.1% |
5+ Bedrooms | $348K | $485K | +39.4% |
Summary: Norwood Young America housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 39.4%.
Median Sold Price Compared To Nearby Cities
Norwood Young America | $271.5K | $302.5K | +11.4% |
Young America Township | $300K | $315K | +5.0% |
Young America | $300K | $314K | +4.7% |
Housing Supply in Norwood Young America, MN
How many homes are available in Norwood Young America, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 23 | 0.0% |
Summary: The Norwood Young America real estate market had 23 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 | 4 | 5 | +25.0% |
3 Bedrooms | 8 | 8 | 0.0% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Norwood Young America 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 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Norwood Young America in March 2024, up by 16.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Norwood Young America, MN
How long does it take to sell a home in Norwood Young America, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 25 Days | -53.5% |
Summary: Homes in Norwood Young America had an average of 25 days on market in Mar 2024, down by 53.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Norwood Young America; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.