Is Olmsted County, 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, Olmsted County has remained a Seller's Market.
Key Takeaway
Olmsted County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olmsted County, MN
How much do homes in Olmsted County, MN cost?
Median Sold Price
$315,066
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Olmsted County has remained the same since last year.
Summary: The median home sold price in Olmsted County was $315,066 in March 2024, down 0.3% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $145K | +20.8% |
| 2 Bedrooms | $230K | $230K | 0.0% |
| 3 Bedrooms | $274.6K | $280K | +2.0% |
| 4 Bedrooms | $359.9K | $368.2K | +2.3% |
| 5+ Bedrooms | $530K | $565K | +6.6% |
Summary: Olmsted County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.8%, 2 bedroom homes did not change, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Counties
| Wabasha County | $259.4K | $288.4K | +11.2% |
| Dodge County | $260K | $282K | +8.5% |
| Mower County | $171.3K | $185.1K | +8.1% |
| Olmsted County | $316.1K | $315K | -0.3% |
| Goodhue County | $287.5K | $285K | -0.9% |
Housing Supply in Olmsted County, MN
How many homes are available in Olmsted County, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 561 | 679 | +21.0% |
Summary: The Olmsted County real estate market had 679 homes for sale in March 2024, a 21.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 111 | 119 | +7.2% |
| 3 Bedrooms | 150 | 176 | +17.3% |
| 4 Bedrooms | 201 | 270 | +34.3% |
| 5+ Bedrooms | 92 | 105 | +14.1% |
Summary: The Olmsted County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 17.3%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes increased by 14.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 137 | 152 | +10.9% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olmsted County, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.
Summary: A total of 152 homes were sold or pending in Olmsted County in March 2024, up by 10.9% month-over-month. Of the 152 sold homes, 37% were sold under asking, 28% were sold at asking, and 36% were sold over asking.
Days on Market for Olmsted County, MN
How long does it take to sell a home in Olmsted County, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 50 Days | +7.1% |
Summary: Homes in Olmsted County had an average of 50 days on market in Mar 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olmsted County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 152 homes were sold in Olmsted County; 61% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
