Is Montrose, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Montrose has remained a Seller's Market.
Key Takeaway
Montrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montrose, MN
How much do homes in Montrose, MN cost?
Median Sold Price
$290,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montrose have sold for 3% less than they did a year ago.
Summary: The median home sold price in Montrose was $290,000 in April 2024, down 3% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $178.5K | $242K | +35.6% |
| 3 Bedrooms | $290K | $285K | -1.7% |
| 4 Bedrooms | $319.9K | $313K | -2.2% |
| 5+ Bedrooms | $375.5K | $350K | -6.8% |
Summary: Montrose housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.6%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 6.8%.
Housing Supply in Montrose, MN
How many homes are available in Montrose, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Montrose real estate market had 17 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Montrose housing inventory by bedroom type for April 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 remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Montrose, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Montrose in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Montrose, MN
How long does it take to sell a home in Montrose, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 53 Days | +589.7% |
Summary: Homes in Montrose had an average of 53 days on market in Apr 2024, up by 589.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Montrose are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Montrose; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
