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.
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
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
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
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.