Is Steele 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, Steele County has remained a Seller's Market.
Key Takeaway
Steele County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Steele County, MN
How much do homes in Steele County, MN cost?
Median Sold Price
$265,583
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Steele County have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Steele County was $265,583 in April 2024, up 2.1% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158.2K | $173.4K | +9.7% |
| 2 Bedrooms | $213K | $225K | +5.6% |
| 3 Bedrooms | $220K | $255K | +15.9% |
| 4 Bedrooms | $290K | $305K | +5.2% |
| 5+ Bedrooms | $377K | $383K | +1.6% |
Summary: Steele County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Counties
| Waseca County | $210K | $242K | +15.2% |
| Dodge County | $262.4K | $278.3K | +6.1% |
| Rice County | $308.4K | $325.2K | +5.4% |
| Steele County | $260K | $265.5K | +2.1% |
| Freeborn County | $159.9K | $158.2K | -1.0% |
Housing Supply in Steele County, MN
How many homes are available in Steele County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 94 | 114 | +21.3% |
Summary: The Steele County real estate market had 114 homes for sale in April 2024, a 21.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 38 | 43 | +13.2% |
| 4 Bedrooms | 31 | 44 | +41.9% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Steele County 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 increased by 13.2%, 4 bedroom homes increased by 41.9%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 27 | -12.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Steele County, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Steele County in April 2024, down by 12.9% month-over-month. Of the 27 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for Steele County, MN
How long does it take to sell a home in Steele County, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 27 Days | -29.7% |
Summary: Homes in Steele County had an average of 27 days on market in Apr 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Steele County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Steele County; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
