Is Redwood County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Redwood County has remained a Seller's Market.
Housing Prices in Redwood County, MN
How much do homes in Redwood County, MN cost?
Median Sold Price
$145,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Redwood County was $145,000 in November 2023, up 6.8% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $20K | - | N/A |
2 Bedrooms | $75K | $93.7K | +25.0% |
3 Bedrooms | $136.5K | $150.2K | +10.1% |
4 Bedrooms | $166.5K | $170K | +2.1% |
5+ Bedrooms | $282.5K | $258.2K | -8.6% |
Summary: Redwood County housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Counties
Yellow Medicine County | $119.9K | $142.5K | +18.8% |
Cottonwood County | $152K | $164K | +7.9% |
Redwood County | $135.7K | $145K | +6.8% |
Renville County | $143.5K | $145.5K | +1.4% |
Housing Supply in Redwood County, MN
How many homes are available in Redwood County, MN?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
66 | 58 | -12.1% |
Summary: The Redwood County real estate market had 58 homes for sale in November 2023, a 12.1% decrease compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 33 | 26 | -21.2% |
4 Bedrooms | 16 | 17 | +6.3% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Redwood County housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 21.2%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
15 | 13 | -13.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Redwood County in November 2023, down by 13.3% month-over-month. Of the 13 sold homes, 92% were sold under asking, 0% were sold at asking, and 8% were sold over asking.
Days on Market for Redwood County, MN
How long does it take to sell a home in Redwood County, MN?
Average Sale Time
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
41 Days | 55 Days | +36.0% |
Summary: Homes in Redwood County had an average of 55 days on market in Nov 2023, up by 36% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During November 2023, 13 homes were sold in Redwood County; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.