Is Redwood County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Redwood County was a Buyer's Market.
Key Takeaway
Redwood County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redwood County, MN
How much do homes in Redwood County, MN cost?
Median Sold Price
$145,600
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Redwood County have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Redwood County was $145,600 in April 2024, up 4.4% from last year, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $20K | - | N/A |
| 2 Bedrooms | $82K | $100.1K | +22.1% |
| 3 Bedrooms | $139.9K | $142.8K | +2.0% |
| 4 Bedrooms | $173.5K | $180K | +3.7% |
| 5+ Bedrooms | $197.6K | $267.5K | +35.3% |
Summary: Redwood County 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 22.1%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 35.3%.
Median Sold Price Compared To Nearby Counties
| Brown County | $165K | $188.2K | +14.1% |
| Renville County | $144K | $155K | +7.6% |
| Yellow Medicine County | $134.9K | $145K | +7.5% |
| Redwood County | $139.4K | $145.6K | +4.4% |
| Cottonwood County | $161K | $159K | -1.2% |
Housing Supply in Redwood County, MN
How many homes are available in Redwood County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 49 | +4.3% |
Summary: The Redwood County real estate market had 49 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Redwood County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Redwood County, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Redwood County in April 2024, down by 16.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 155 Days | 51 Days | -66.8% |
Summary: Homes in Redwood County had an average of 51 days on market in Apr 2024, down by 66.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redwood County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Redwood County; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
