Is Pelican Rapids, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Pelican Rapids has remained a Buyer's Market.
Housing Prices in Pelican Rapids, MN
How much do homes in Pelican Rapids, MN cost?
Median Sold Price
$434,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Pelican Rapids was $434,000 in April 2024, up 40.7% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $128.5K | -34.1% |
2 Bedrooms | $180K | $307.5K | +70.8% |
3 Bedrooms | $449.5K | $442.3K | -1.6% |
4 Bedrooms | $361.5K | $520K | +43.8% |
5+ Bedrooms | $1.3M | $274K | -79.9% |
Summary: Pelican Rapids housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes increased by 70.8%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes decreased by 79.9%.
Housing Supply in Pelican Rapids, MN
How many homes are available in Pelican Rapids, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 38 | +15.2% |
Summary: The Pelican Rapids real estate market had 38 homes for sale in April 2024, a 15.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 8 | 13 | +62.5% |
3 Bedrooms | 16 | 14 | -12.5% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Pelican Rapids housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 62.5%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 5 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Pelican Rapids in April 2024, down by 37.5% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Pelican Rapids, MN
How long does it take to sell a home in Pelican Rapids, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
94 Days | 54 Days | -42.6% |
Summary: Homes in Pelican Rapids had an average of 54 days on market in Apr 2024, down by 42.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Pelican Rapids; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.