Is Rice County, 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, Rice County has remained a Seller's Market.
Key Takeaway
Rice County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rice County, MN
How much do homes in Rice County, MN cost?
Median Sold Price
$325,200
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Rice County have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Rice County was $325,200 in April 2024, up 5.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167K | $154.9K | -7.2% |
| 2 Bedrooms | $242K | $237K | -2.1% |
| 3 Bedrooms | $275K | $304.8K | +10.8% |
| 4 Bedrooms | $367.5K | $375K | +2.0% |
| 5+ Bedrooms | $400K | $451K | +12.8% |
Summary: Rice County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Counties
| Waseca County | $210K | $242K | +15.2% |
| Rice County | $308.4K | $325.2K | +5.4% |
| Steele County | $260K | $265.5K | +2.1% |
| Le Sueur County | $281K | $283.9K | +1.0% |
| Scott County | $411.7K | $410K | -0.4% |
Housing Supply in Rice County, MN
How many homes are available in Rice County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 214 | 240 | +12.1% |
Summary: The Rice County real estate market had 240 homes for sale in April 2024, a 12.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 35 | 40 | +14.3% |
| 3 Bedrooms | 76 | 91 | +19.7% |
| 4 Bedrooms | 62 | 65 | +4.8% |
| 5+ Bedrooms | 38 | 40 | +5.3% |
Summary: The Rice County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 72 | +63.6% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rice County, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 72 homes were sold or pending in Rice County in April 2024, up by 63.6% month-over-month. Of the 72 sold homes, 35% were sold under asking, 21% were sold at asking, and 44% were sold over asking.
Days on Market for Rice County, MN
How long does it take to sell a home in Rice County, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 48 Days | +28.1% |
Summary: Homes in Rice County had an average of 48 days on market in Apr 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rice County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 72 homes were sold in Rice County; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
