Is Zumbrota, 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, Zumbrota has remained a Seller's Market.
Key Takeaway
Zumbrota is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Zumbrota, MN
How much do homes in Zumbrota, MN cost?
Median Sold Price
$295,500
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Zumbrota have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Zumbrota was $295,500 in March 2024, up 1.4% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $502K | N/A |
| 2 Bedrooms | $228K | $289K | +26.8% |
| 3 Bedrooms | $263.7K | $259.9K | -1.4% |
| 4 Bedrooms | $324.9K | $360K | +10.8% |
| 5+ Bedrooms | $385K | $505K | +31.2% |
Summary: Zumbrota housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 31.2%.
Median Sold Price Compared To Nearby Cities
| Pine Island Township | $323.8K | $355K | +9.6% |
| Zumbrota | $291.4K | $295.5K | +1.4% |
| Zumbrota Township | $291.4K | $295.5K | +1.4% |
Housing Supply in Zumbrota, MN
How many homes are available in Zumbrota, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Summary: The Zumbrota real estate market had 29 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Zumbrota 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 decreased by 28.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Zumbrota, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Zumbrota in March 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Zumbrota, MN
How long does it take to sell a home in Zumbrota, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 222 Days | +237.1% |
Summary: Homes in Zumbrota had an average of 222 days on market in Mar 2024, up by 237.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Zumbrota are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Zumbrota; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
