Is Oak Grove, 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, Oak Grove has remained a Neutral Market.
Key Takeaway
Oak Grove 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 Oak Grove, MN
How much do homes in Oak Grove, MN cost?
Median Sold Price
$456,776
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Oak Grove have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in Oak Grove was $456,776 in March 2024, down 4.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $405K | $312K | -23.0% |
| 3 Bedrooms | $427.5K | $407K | -4.8% |
| 4 Bedrooms | $492.5K | $495K | 0.5% |
| 5+ Bedrooms | $720K | $495K | -31.3% |
Summary: Oak Grove 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 23%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Saint Francis | $335K | $338K | +0.9% |
| East Bethel | $390K | $391K | 0.3% |
| Andover | $440K | $436K | -0.9% |
| Oak Grove | $479.5K | $456.7K | -4.7% |
Housing Supply in Oak Grove, MN
How many homes are available in Oak Grove, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Summary: The Oak Grove real estate market had 26 homes for sale in March 2024, a 13.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Oak Grove 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 11.1%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Grove, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Oak Grove in March 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Oak Grove, MN
How long does it take to sell a home in Oak Grove, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 59 Days | 75 Days | +27.2% |
Summary: Homes in Oak Grove had an average of 75 days on market in Mar 2024, up by 27.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Oak Grove are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Oak Grove; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
