Is Pennington County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Pennington County was a Seller's Market.
Housing Prices in Pennington County, MN
How much do homes in Pennington County, MN cost?
Median Sold Price
$175,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Pennington County was $175,000 in March 2024, up 2.9% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $18.6K | -71.4% |
2 Bedrooms | $142.9K | $142.7K | -0.1% |
3 Bedrooms | $177.2K | $173.7K | -2.0% |
4 Bedrooms | $220K | $242K | +10.0% |
5+ Bedrooms | $295.1K | $234.9K | -20.4% |
Summary: Pennington County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 71.4%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 20.4%.
Median Sold Price Compared To Nearby Counties
Marshall County | $141K | $165K | +17.0% |
Pennington County | $170K | $175K | +2.9% |
Beltrami County | $255.2K | $256.6K | 0.5% |
Clearwater County | $191.2K | $172K | -10.0% |
Housing Supply in Pennington County, MN
How many homes are available in Pennington County, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 56 | +19.1% |
Summary: The Pennington County real estate market had 56 homes for sale in March 2024, a 19.1% 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 | 7 | 10 | +42.9% |
3 Bedrooms | 23 | 25 | +8.7% |
4 Bedrooms | 15 | 16 | +6.7% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Pennington County 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 increased by 42.9%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Pennington County in March 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Pennington County, MN
How long does it take to sell a home in Pennington County, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 70 Days | +46.3% |
Summary: Homes in Pennington County had an average of 70 days on market in Mar 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Pennington County; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.