Is Powderhorn, 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, Powderhorn has remained a Seller's Market.
Key Takeaway
Powderhorn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Powderhorn, MN
How much do homes in Powderhorn, MN cost?
Median Sold Price
$290,625
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Powderhorn has remained the same since last year.
Summary: The median home sold price in Powderhorn was $290,625 in April 2024, down 0.5% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $122K | $123.6K | +1.3% |
| 2 Bedrooms | $228K | $242K | +6.1% |
| 3 Bedrooms | $310K | $310K | 0.0% |
| 4 Bedrooms | $350K | $361K | +3.1% |
| 5+ Bedrooms | $384.2K | $390K | +1.5% |
Summary: Powderhorn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 6.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Powderhorn Park | $275K | $286K | +4.0% |
| Powderhorn | $291.9K | $290.6K | -0.5% |
Housing Supply in Powderhorn, MN
How many homes are available in Powderhorn, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 119 | 146 | +22.7% |
Summary: The Powderhorn real estate market had 146 homes for sale in April 2024, a 22.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 30 | +15.4% |
| 2 Bedrooms | 25 | 31 | +24.0% |
| 3 Bedrooms | 42 | 54 | +28.6% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Powderhorn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 40 | +60.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Powderhorn, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in Powderhorn in April 2024, up by 60.0% month-over-month. Of the 40 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for Powderhorn, MN
How long does it take to sell a home in Powderhorn, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 29 Days | -15.8% |
Summary: Homes in Powderhorn had an average of 29 days on market in Apr 2024, down by 15.8% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Powderhorn are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 40 homes were sold in Powderhorn; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
