Is Zimmerman, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Zimmerman was a Seller's Market.
Key Takeaway
Zimmerman is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Zimmerman, MN
How much do homes in Zimmerman, MN cost?
Median Sold Price
$356,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Zimmerman have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Zimmerman was $356,000 in March 2024, up 1.7% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.4K | $250.7K | +45.4% |
| 2 Bedrooms | $267.5K | $274.5K | +2.6% |
| 3 Bedrooms | $330K | $322.8K | -2.2% |
| 4 Bedrooms | $390K | $389.9K | 0% |
| 5+ Bedrooms | $545K | $450K | -17.4% |
Summary: Zimmerman housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.4%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 17.4%.
Median Sold Price Compared To Nearby Cities
| Zimmerman | $350K | $356K | +1.7% |
| Livonia Township | $469K | $437.5K | -6.7% |
Housing Supply in Zimmerman, MN
How many homes are available in Zimmerman, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 68 | +17.2% |
Summary: The Zimmerman real estate market had 68 homes for sale in March 2024, a 17.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 15 | 17 | +13.3% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 23 | 31 | +34.8% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Zimmerman housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 13.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Zimmerman, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Zimmerman in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.
Days on Market for Zimmerman, MN
How long does it take to sell a home in Zimmerman, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 21 Days | -55.5% |
Summary: Homes in Zimmerman had an average of 21 days on market in Mar 2024, down by 55.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Zimmerman are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Zimmerman; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
