Is Polk 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, Polk County was a Seller's Market.
Key Takeaway
Polk County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Polk County, MN
How much do homes in Polk County, MN cost?
Median Sold Price
$167,250
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Polk County have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in Polk County was $167,250 in March 2024, up 17.2% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $49.5K | $76.5K | +54.5% |
| 2 Bedrooms | $110K | $121.5K | +10.5% |
| 3 Bedrooms | $130K | $168K | +29.2% |
| 4 Bedrooms | $194K | $227.6K | +17.3% |
| 5+ Bedrooms | $285K | $230K | -19.3% |
Summary: Polk County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.5%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes decreased by 19.3%.
Median Sold Price Compared To Nearby Counties
| Norman County | $119.5K | $159K | +33.1% |
| Polk County | $142.7K | $167.2K | +17.2% |
| Traill County | $201K | $207K | +3.0% |
Housing Supply in Polk County, MN
How many homes are available in Polk County, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 39 | +18.2% |
Summary: The Polk County real estate market had 39 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Polk 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 decreased by 11.1%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Polk County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Polk County in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Polk County, MN
How long does it take to sell a home in Polk County, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 106 Days | 73 Days | -30.4% |
Summary: Homes in Polk County had an average of 73 days on market in Mar 2024, down by 30.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Polk County has remained consistent over time.
Summary: During March 2024, 4 homes were sold in Polk County; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
