Is Pennock, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Pennock has remained a Seller's Market.
Key Takeaway
Pennock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pennock, MN
How much do homes in Pennock, MN cost?
Median Sold Price
$365,000
$121/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Pennock have sold for 64.6% more than they did a month ago.
Summary: The median home sold price in Pennock was $365,000 in March 2024, up 64.6% from last month, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $222K | $296.5K | +33.6% |
| 4 Bedrooms | $221.5K | $440K | +98.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: Pennock housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 33.6%, 4 bedroom homes increased by 98.6%, and 5+ bedroom homes did not change.
Housing Supply in Pennock, MN
How many homes are available in Pennock, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The Pennock real estate market had 5 homes for sale in March 2024, a 16.7% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Pennock 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 remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Pennock, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Pennock in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Pennock, MN
How long does it take to sell a home in Pennock, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 5 Days | -91.7% |
Summary: Homes in Pennock had an average of 5 days on market in Mar 2024, down by 91.7% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pennock are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Pennock; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
