Is Pine Island, 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, Pine Island has remained a Seller's Market.
Key Takeaway
Pine Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pine Island, MN
How much do homes in Pine Island, MN cost?
Median Sold Price
$350,500
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pine Island have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Pine Island was $350,500 in April 2024, up 7.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $245K | $200K | -18.4% |
| 3 Bedrooms | $335K | $373.5K | +11.5% |
| 4 Bedrooms | $373.4K | $389.9K | +4.4% |
| 5+ Bedrooms | $450K | $547.5K | +21.7% |
Summary: Pine Island housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 21.7%.
Median Sold Price Compared To Nearby Cities
| Oronoco | $429.5K | $510K | +18.7% |
| Pine Island | $325K | $350.5K | +7.8% |
| Pine Island Township | $329.1K | $349.9K | +6.3% |
| Oronoco Township | $599K | $545K | -9.0% |
Housing Supply in Pine Island, MN
How many homes are available in Pine Island, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Pine Island real estate market had 21 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Pine Island housing inventory by bedroom type for April 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 increased by 27.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pine Island, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Pine Island in April 2024, up by 166.7% month-over-month. Of the 8 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Pine Island, MN
How long does it take to sell a home in Pine Island, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 86 Days | 27 Days | -68.6% |
Summary: Homes in Pine Island had an average of 27 days on market in Apr 2024, down by 68.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Pine Island are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Pine Island; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
