Is Preston, 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, Preston has remained a Seller's Market.
Key Takeaway
Preston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Preston, MN
How much do homes in Preston, MN cost?
Median Sold Price
$179,950
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Preston have sold for 5.3% less than they did a year ago.
Summary: The median home sold price in Preston was $179,950 in April 2024, down 5.3% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | - | N/A |
| 2 Bedrooms | $116.5K | $157.5K | +35.2% |
| 3 Bedrooms | $209.9K | $200K | -4.7% |
| 4 Bedrooms | $167.5K | $175K | +4.5% |
| 5+ Bedrooms | $260K | $168K | -35.4% |
Summary: Preston 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 increased by 35.2%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 35.4%.
Median Sold Price Compared To Nearby Cities
| Preston | $190K | $179.9K | -5.3% |
| Preston Township | $190K | $180K | -5.3% |
Housing Supply in Preston, MN
How many homes are available in Preston, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Preston real estate market had 11 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Preston 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Preston, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Preston in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Preston, MN
How long does it take to sell a home in Preston, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 90 Days | 73 Days | -19.5% |
Summary: Homes in Preston had an average of 73 days on market in Apr 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Preston are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Preston; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
