Is Wadena, 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, Wadena has remained a Seller's Market.
Key Takeaway
Wadena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wadena, MN
How much do homes in Wadena, MN cost?
Median Sold Price
$182,500
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wadena have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Wadena was $182,500 in March 2024, up 13.7% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $58.7K | $18.5K | -68.5% |
| 2 Bedrooms | $80K | $134.5K | +68.1% |
| 3 Bedrooms | $158K | $162.5K | +2.8% |
| 4 Bedrooms | $175.5K | $229.4K | +30.7% |
| 5+ Bedrooms | $252K | $317K | +25.8% |
Summary: Wadena housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.5%, 2 bedroom homes increased by 68.1%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| Wadena | $160.5K | $182.5K | +13.7% |
| Wadena Township | $166K | $182.5K | +9.9% |
Housing Supply in Wadena, MN
How many homes are available in Wadena, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Summary: The Wadena real estate market had 32 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Wadena 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 20%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wadena, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Wadena in March 2024, up by 250.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for Wadena, MN
How long does it take to sell a home in Wadena, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 98 Days | +53.3% |
Summary: Homes in Wadena had an average of 98 days on market in Mar 2024, up by 53.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wadena has remained consistent over time.
Summary: During March 2024, 7 homes were sold in Wadena; 14% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
