Is Redwood Falls, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Redwood Falls has remained a Seller's Market.
Housing Prices in Redwood Falls, MN
How much do homes in Redwood Falls, MN cost?
Median Sold Price
$185,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Redwood Falls was $185,000 in February 2024, up 12.5% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $84.5K | $102.7K | +21.5% |
3 Bedrooms | $150K | $175.7K | +17.2% |
4 Bedrooms | $229.5K | $200K | -12.9% |
5+ Bedrooms | $378K | $322.5K | -14.7% |
Summary: Redwood Falls housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.5%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 14.7%.
Median Sold Price Compared To Nearby Cities
Redwood Falls Township | $160K | $185K | +15.6% |
Redwood Falls | $164.5K | $185K | +12.5% |
Housing Supply in Redwood Falls, MN
How many homes are available in Redwood Falls, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
29 | 29 | 0.0% |
Summary: The Redwood Falls real estate market had 29 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Redwood Falls housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
3 | 7 | +133.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Redwood Falls in February 2024, up by 133.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Redwood Falls, MN
How long does it take to sell a home in Redwood Falls, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
97 Days | 135 Days | +39.3% |
Summary: Homes in Redwood Falls had an average of 135 days on market in Feb 2024, up by 39.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in Redwood Falls; 29% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 71% of homes were sold over 90 days.