Is Oak Grove, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Grove is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Oak Grove was a Seller's Market.

Key Takeaway

Oak Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Oak Grove, MN

How much do homes in Oak Grove, MN cost?

Median Sold Price

$474,950

$216/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$24,950(+5.5%)

Key Takeaway

Homes in Oak Grove have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in Oak Grove was $474,950 in September 2024, up 5.5% from last year, and the median price per square foot was $216.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $332K$385K
+16.0%
3 $410K$383.5K
-6.5%
4 $509.2K$507.7K
-0.3%
5+ $495K$537.5K
+8.6%

Summary: Oak Grove housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 8.6%.

Median Sold Price Compared To Nearby Cities

Saint Francis
+6.2%
Oak Grove
+5.5%
Andover
+3.4%
East Bethel
+2.9%
Cedar
+1.5%

Housing Supply in Oak Grove, MN

How many homes are available in Oak Grove, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5152+2.0%

Summary: The Oak Grove real estate market had 52 homes for sale in September 2024, a 2.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 57
+40.0%
3 1618
+12.5%
4 2322
-4.3%
5+ 75
-28.6%

Summary: The Oak Grove housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 28.6%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
95-44.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Grove, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Oak Grove in September 2024, down by 44.4% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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

Sep 2023Sep 2024CHANGE
45 Days7 Days-84.5%

Summary: Homes in Oak Grove had an average of 7 days on market in Sep 2024, down by 84.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 5 homes were sold in Oak Grove; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 13 Days Ago

Newest Listings in Oak Grove, MN

Nearby Markets to Oak Grove, MN

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