Is Olmsted County, 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, Olmsted County has remained a Seller's Market.
Key Takeaway
Olmsted County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olmsted County, MN
How much do homes in Olmsted County, MN cost?
Median Sold Price
$318,987
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Olmsted County have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Olmsted County was $318,987 in April 2024, up 1.3% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119.5K | $137.5K | +15.1% |
| 2 Bedrooms | $228K | $232.2K | +1.9% |
| 3 Bedrooms | $275K | $279.8K | +1.8% |
| 4 Bedrooms | $360.8K | $366.6K | +1.6% |
| 5+ Bedrooms | $530K | $567.5K | +7.1% |
Summary: Olmsted County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.1%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Counties
| Mower County | $170.7K | $185.7K | +8.8% |
| Wabasha County | $265K | $287.4K | +8.5% |
| Dodge County | $262.4K | $278.3K | +6.1% |
| Goodhue County | $287.3K | $291.9K | +1.6% |
| Olmsted County | $315K | $318.9K | +1.3% |
Housing Supply in Olmsted County, MN
How many homes are available in Olmsted County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 673 | 803 | +19.3% |
Summary: The Olmsted County real estate market had 803 homes for sale in April 2024, a 19.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 7 | -22.2% |
| 2 Bedrooms | 116 | 141 | +21.6% |
| 3 Bedrooms | 172 | 212 | +23.3% |
| 4 Bedrooms | 272 | 308 | +13.2% |
| 5+ Bedrooms | 104 | 135 | +29.8% |
Summary: The Olmsted County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 29.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 157 | 178 | +13.4% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
53 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olmsted County, you could pay more than the asking price. 37.6% of homes here sold above asking price last month.
Summary: A total of 178 homes were sold or pending in Olmsted County in April 2024, up by 13.4% month-over-month. Of the 178 sold homes, 33% were sold under asking, 30% were sold at asking, and 38% were sold over asking.
Days on Market for Olmsted County, MN
How long does it take to sell a home in Olmsted County, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 40 Days | -4.8% |
Summary: Homes in Olmsted County had an average of 40 days on market in Apr 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
125 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olmsted County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 178 homes were sold in Olmsted County; 70% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
