Is Willmar, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Willmar is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Willmar has remained a Seller's Market.

Key Takeaway

Willmar is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Willmar, MN

How much do homes in Willmar, MN cost?

Median Sold Price

$223,300

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$9,800(+4.6%)

Key Takeaway

Homes in Willmar have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Willmar was $223,300 in February 2024, up 4.6% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $90K$173.5K
+92.8%
2 $170K$166.3K
-2.1%
3 $205K$214K
+4.4%
4 $261K$270K
+3.4%
5+ $281.2K$280K
-0.4%

Summary: Willmar housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.8%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 0.4%.

Median Sold Price Compared To Nearby Cities

Willmar
+4.6%
Willmar Township
+3.6%

Housing Supply in Willmar, MN

How many homes are available in Willmar, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4144+7.3%

Summary: The Willmar real estate market had 44 homes for sale in February 2024, a 7.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 88
0.0%
3 1519
+26.7%
4 1413
-7.1%
5+ 44
0.0%

Summary: The Willmar housing inventory by bedroom type for February 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 26.7%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
810+25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Willmar, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in Willmar in February 2024, up by 25.0% month-over-month. Of the 10 sold homes, 30% were sold under asking, 40% were sold at asking, and 30% were sold over asking.

Days on Market for Willmar, MN

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

Average Sale Time

Feb 2023Feb 2024CHANGE
46 Days23 Days-49.0%

Summary: Homes in Willmar had an average of 23 days on market in Feb 2024, down by 49% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 10 homes were sold in Willmar; 60% of homes were sold within 30 days, 30% 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 27 Days Ago

Newest Listings in Willmar, MN

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