Is Ravenna Township, 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, Ravenna Township has remained a Seller's Market.
Key Takeaway
Ravenna Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ravenna Township, MN
How much do homes in Ravenna Township, MN cost?
Median Sold Price
$480,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ravenna Township have sold for 3% less than they did a year ago.
Summary: The median home sold price in Ravenna Township was $480,000 in April 2024, down 3% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $590K | +31.1% |
| 3 Bedrooms | $595.7K | $450K | -24.5% |
| 4 Bedrooms | $475K | $517.4K | +8.9% |
| 5+ Bedrooms | $619.9K | $520.2K | -16.1% |
Summary: Ravenna Township 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 31.1%, 3 bedroom homes decreased by 24.5%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 16.1%.
Housing Supply in Ravenna Township, MN
How many homes are available in Ravenna Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The Ravenna Township real estate market had 5 homes for sale in April 2024, a 28.6% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Ravenna Township 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 decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 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 Ravenna Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Ravenna Township in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Ravenna Township, MN
How long does it take to sell a home in Ravenna Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 35 Days | +1075.0% |
Summary: Homes in Ravenna Township had an average of 35 days on market in Apr 2024, up by 1075% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ravenna Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Ravenna Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
