Is Wells Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Wells Township was a Seller's Market.
Housing Prices in Wells Township, MN
How much do homes in Wells Township, MN cost?
Median Sold Price
$185,900
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wells Township was $185,900 in April 2024, down 3.2% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90.5K | $105K | +16.0% |
2 Bedrooms | $127K | $155K | +22.0% |
3 Bedrooms | $215K | $182.9K | -14.9% |
4 Bedrooms | $187.4K | $198K | +5.6% |
5+ Bedrooms | $130K | $390K | +200.0% |
Summary: Wells Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 22%, 3 bedroom homes decreased by 14.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 200%.
Median Sold Price Compared To Nearby Cities
Forest Township | $480K | $635K | +32.3% |
Faribault | $255K | $285K | +11.8% |
Wells Township | $192K | $185.9K | -3.2% |
Housing Supply in Wells Township, MN
How many homes are available in Wells Township, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 23 | +21.1% |
Summary: The Wells Township real estate market had 23 homes for sale in April 2024, a 21.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 0 | 3 | +100.0% |
3 Bedrooms | 9 | 9 | 0.0% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Wells Township 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Wells Township in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Wells Township, MN
How long does it take to sell a home in Wells Township, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
90 Days | 81 Days | -10.5% |
Summary: Homes in Wells Township had an average of 81 days on market in Apr 2024, down by 10.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Wells Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.