Is Mille Lacs County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mille Lacs County was a Seller's Market.
Key Takeaway
Mille Lacs County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mille Lacs County, MN
How much do homes in Mille Lacs County, MN cost?
Median Sold Price
$296,083
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mille Lacs County have sold for 2.9% less than they did a year ago.
Summary: The median home sold price in Mille Lacs County was $296,083 in April 2024, down 2.9% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $101K | $107.4K | +6.3% |
| 2 Bedrooms | $254.9K | $249.9K | -2.0% |
| 3 Bedrooms | $303K | $300K | -1.0% |
| 4 Bedrooms | $385K | $340K | -11.7% |
| 5+ Bedrooms | $447K | $425K | -4.9% |
Summary: Mille Lacs County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes decreased by 4.9%.
Median Sold Price Compared To Nearby Counties
| Morrison County | $235.7K | $251.2K | +6.6% |
| Isanti County | $312.6K | $315K | +0.7% |
| Sherburne County | $360K | $360.8K | 0.2% |
| Kanabec County | $250K | $250K | 0.0% |
| Mille Lacs County | $305K | $296K | -2.9% |
Housing Supply in Mille Lacs County, MN
How many homes are available in Mille Lacs County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 102 | 154 | +51.0% |
Summary: The Mille Lacs County real estate market had 154 homes for sale in April 2024, a 51.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 16 | 29 | +81.3% |
| 3 Bedrooms | 52 | 78 | +50.0% |
| 4 Bedrooms | 23 | 31 | +34.8% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Mille Lacs County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 81.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mille Lacs County, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Mille Lacs County in April 2024, the same as the previous month. Of the 19 sold homes, 47% were sold under asking, 26% were sold at asking, and 26% were sold over asking.
Days on Market for Mille Lacs County, MN
How long does it take to sell a home in Mille Lacs County, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 64 Days | -11.1% |
Summary: Homes in Mille Lacs County had an average of 64 days on market in Apr 2024, down by 11.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mille Lacs County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in Mille Lacs County; 53% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
