Is Silver Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Silver Lake was a Buyer's Market.
Key Takeaway
Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Lake, MN
How much do homes in Silver Lake, MN cost?
Median Sold Price
$234,750
$122/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Silver Lake have sold for 95.6% more than they did a month ago.
Summary: The median home sold price in Silver Lake was $234,750 in April 2024, up 95.6% from last month, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $120K | - | N/A |
| 4 Bedrooms | - | $234.7K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Silver Lake housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Silver Lake, MN
How many homes are available in Silver Lake, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Summary: The Silver Lake real estate market had 8 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Silver Lake housing inventory by bedroom type for April 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 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Silver Lake in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Silver Lake, MN
How long does it take to sell a home in Silver Lake, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 46 Days | +48.4% |
Summary: Homes in Silver Lake had an average of 46 days on market in Apr 2024, up by 48.4% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Silver Lake; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
