Is Tonka Bay, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tonka Bay is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Tonka Bay was a Seller's Market.

Key Takeaway

Tonka Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Tonka Bay, MN

How much do homes in Tonka Bay, MN cost?

Median Sold Price

$1,526,037

$383/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$107,161(+7.6%)

Key Takeaway

Homes in Tonka Bay have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Tonka Bay was $1,526,037 in October 2024, up 7.6% from last year, and the median price per square foot was $383.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $1.1M$545K
-53.0%
3 $1.6M$640K
-62.2%
4 $837K$2.1M
+159.8%
5+ $1.3M$1.8M
+29.7%

Summary: Tonka Bay housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 53%, 3 bedroom homes decreased by 62.2%, 4 bedroom homes increased by 159.8%, and 5+ bedroom homes increased by 29.7%.

Median Sold Price Compared To Nearby Cities

Tonka Bay
+7.6%
Shorewood
-15.2%

Housing Supply in Tonka Bay, MN

How many homes are available in Tonka Bay, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
98-11.1%

Summary: The Tonka Bay real estate market had 8 homes for sale in October 2024, a 11.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 00
0.0%
3 21
-50.0%
4 55
0.0%
5+ 11
0.0%

Summary: The Tonka Bay housing inventory by bedroom type for October 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 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tonka Bay, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Tonka Bay in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Tonka Bay, MN

How long does it take to sell a home in Tonka Bay, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
0 Days18 Days+3500.0%

Summary: Homes in Tonka Bay had an average of 18 days on market in Oct 2024, up by 3500% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Tonka Bay are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in Tonka Bay; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 11 Days Ago

Newest Listings in Tonka Bay, MN

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