Is Rice, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rice has remained a Seller's Market.
Key Takeaway
Rice is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rice, MN
How much do homes in Rice, MN cost?
Median Sold Price
$289,900
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rice have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Rice was $289,900 in March 2024, down 2.4% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $278K | $256.9K | -7.6% |
| 3 Bedrooms | $306.5K | $272.5K | -11.1% |
| 4 Bedrooms | $290K | $322K | +11.0% |
| 5+ Bedrooms | $630K | $450K | -28.6% |
Summary: Rice housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.6%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 11%, and 5+ bedroom homes decreased by 28.6%.
Housing Supply in Rice, MN
How many homes are available in Rice, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Summary: The Rice real estate market had 21 homes for sale in March 2024, a 40.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Rice housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rice, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Rice in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Rice, MN
How long does it take to sell a home in Rice, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 123 Days | +205.0% |
Summary: Homes in Rice had an average of 123 days on market in Mar 2024, up by 205% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Rice are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Rice; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
