Is Saint Michael, 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, Saint Michael has remained a Seller's Market.
Key Takeaway
Saint Michael is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saint Michael, MN
How much do homes in Saint Michael, MN cost?
Median Sold Price
$449,900
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Saint Michael have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Saint Michael was $449,900 in March 2024, up 5.1% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $301K | $308.4K | +2.5% |
| 3 Bedrooms | $374K | $385K | +2.9% |
| 4 Bedrooms | $460K | $480.9K | +4.5% |
| 5+ Bedrooms | $464.9K | $524.9K | +12.9% |
Summary: Saint Michael 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 increased by 2.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Saint Michael | $428.1K | $449.9K | +5.1% |
| Albertville | $370.8K | $370.5K | -0.1% |
| Otsego | $425K | $420.1K | -1.1% |
| Hanover | $450.3K | $425K | -5.6% |
| Hassan Township | $561.4K | $490K | -12.7% |
Housing Supply in Saint Michael, MN
How many homes are available in Saint Michael, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 119 | 145 | +21.8% |
Summary: The Saint Michael real estate market had 145 homes for sale in March 2024, a 21.8% 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 | 8 | 13 | +62.5% |
| 3 Bedrooms | 50 | 55 | +10.0% |
| 4 Bedrooms | 43 | 48 | +11.6% |
| 5+ Bedrooms | 18 | 29 | +61.1% |
Summary: The Saint Michael 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 increased by 62.5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 61.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 25 | +38.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Michael, expect to pay close to the asking price. 64% of homes here sold near the asking price last month.
Summary: A total of 25 homes were sold or pending in Saint Michael in March 2024, up by 38.9% month-over-month. Of the 25 sold homes, 16% were sold under asking, 64% were sold at asking, and 20% were sold over asking.
Days on Market for Saint Michael, MN
How long does it take to sell a home in Saint Michael, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 35 Days | -8.3% |
Summary: Homes in Saint Michael had an average of 35 days on market in Mar 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saint Michael are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in Saint Michael; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
