Is Nisswa, 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, Nisswa has remained a Seller's Market.
Key Takeaway
Nisswa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nisswa, MN
How much do homes in Nisswa, MN cost?
Median Sold Price
$580,000
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Nisswa have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in Nisswa was $580,000 in May 2024, down 8.7% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251.7K | $422K | +67.7% |
| 2 Bedrooms | $301.9K | $387.7K | +28.4% |
| 3 Bedrooms | $600K | $502.5K | -16.3% |
| 4 Bedrooms | $815K | $720K | -11.7% |
| 5+ Bedrooms | $1.0M | $1.4M | +36.5% |
Summary: Nisswa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.7%, 2 bedroom homes increased by 28.4%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes increased by 36.5%.
Median Sold Price Compared To Nearby Cities
| Lake Shore | $650K | $630K | -3.1% |
| Lake Edward Township | $420K | $404K | -3.8% |
| Pequot Lakes | $425K | $402.5K | -5.3% |
| Pequot Lakes | $428.9K | $405.5K | -5.5% |
| Nisswa | $635K | $580K | -8.7% |
Housing Supply in Nisswa, MN
How many homes are available in Nisswa, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 59 | +13.5% |
Summary: The Nisswa real estate market had 59 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Nisswa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nisswa, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Nisswa in May 2024, up by 33.3% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Nisswa, MN
How long does it take to sell a home in Nisswa, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 62 Days | 43 Days | -30.8% |
Summary: Homes in Nisswa had an average of 43 days on market in May 2024, down by 30.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nisswa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Nisswa; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
