Is Owatonna, 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, Owatonna has remained a Seller's Market.
Key Takeaway
Owatonna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Owatonna, MN
How much do homes in Owatonna, MN cost?
Median Sold Price
$270,000
$147/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Owatonna has remained the same since last year.
Summary: The median home sold price in Owatonna was $270,000 in April 2024, the same as last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $166.6K | $173.4K | +4.1% |
| 2 Bedrooms | $235K | $229K | -2.6% |
| 3 Bedrooms | $224.9K | $260K | +15.6% |
| 4 Bedrooms | $290K | $311K | +7.2% |
| 5+ Bedrooms | $372.2K | $390K | +4.8% |
Summary: Owatonna housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Owatonna | $270K | $270K | 0.0% |
| Owatonna Township | $270K | $270K | 0.0% |
Housing Supply in Owatonna, MN
How many homes are available in Owatonna, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 | 91 | +18.2% |
Summary: The Owatonna real estate market had 91 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 32 | 34 | +6.3% |
| 4 Bedrooms | 24 | 34 | +41.7% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Owatonna 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 increased by 7.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owatonna, you could pay more than the asking price. 59.1% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Owatonna in April 2024, down by 12.0% month-over-month. Of the 22 sold homes, 27% were sold under asking, 14% were sold at asking, and 59% were sold over asking.
Days on Market for Owatonna, MN
How long does it take to sell a home in Owatonna, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 22 Days | -42.5% |
Summary: Homes in Owatonna had an average of 22 days on market in Apr 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Owatonna are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in Owatonna; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
