Is Owatonna, 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, Owatonna has remained a Seller's Market.
Housing Prices in Owatonna, MN
How much do homes in Owatonna, MN cost?
Median Sold Price
$268,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Owatonna was $268,000 in March 2024, down 0.9% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108.6K | $175K | +61.1% |
2 Bedrooms | $225K | $227.5K | +1.1% |
3 Bedrooms | $225K | $259K | +15.1% |
4 Bedrooms | $290K | $309K | +6.6% |
5+ Bedrooms | $382.4K | $390K | +2.0% |
Summary: Owatonna housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.1%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
Owatonna | $270.3K | $268K | -0.9% |
Owatonna Township | $271K | $268K | -1.1% |
Housing Supply in Owatonna, MN
How many homes are available in Owatonna, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 77 | +11.6% |
Summary: The Owatonna real estate market had 77 homes for sale in March 2024, a 11.6% 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 | 15 | 15 | 0.0% |
3 Bedrooms | 24 | 31 | +29.2% |
4 Bedrooms | 25 | 25 | 0.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Owatonna 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 increased by 29.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 24 | +71.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Owatonna in March 2024, up by 71.4% month-over-month. Of the 24 sold homes, 33% were sold under asking, 25% were sold at asking, and 42% were sold over asking.
Days on Market for Owatonna, MN
How long does it take to sell a home in Owatonna, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 50 Days | -14.8% |
Summary: Homes in Owatonna had an average of 50 days on market in Mar 2024, down by 14.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in Owatonna; 54% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.