Is New Market Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Market Township has remained a Seller's Market.
Key Takeaway
New Market Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Market Township, MN
How much do homes in New Market Township, MN cost?
Median Sold Price
$625,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Market Township have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in New Market Township was $625,000 in May 2024, up 1.8% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $443.8K | - | N/A |
| 3 Bedrooms | $434.9K | $454.3K | +4.4% |
| 4 Bedrooms | $677.4K | $700K | +3.3% |
| 5+ Bedrooms | $624K | $675K | +8.2% |
Summary: New Market Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Cedar Lake Township | $625K | $750K | +20.0% |
| New Market Township | $613.8K | $625K | +1.8% |
| Elko New Market | $463.5K | $457K | -1.4% |
| Webster | $549.3K | $493.9K | -10.1% |
Housing Supply in New Market Township, MN
How many homes are available in New Market Township, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 30 | +7.1% |
Summary: The New Market Township real estate market had 30 homes for sale in May 2024, a 7.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The New Market Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Market Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in New Market Township in May 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for New Market Township, MN
How long does it take to sell a home in New Market Township, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 84 Days | 40 Days | -52.2% |
Summary: Homes in New Market Township had an average of 40 days on market in May 2024, down by 52.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in New Market Township has remained consistent over time.
Summary: During May 2024, 7 homes were sold in New Market Township; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
