Is First Assessment, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, First Assessment was a Seller's Market.
Key Takeaway
First Assessment is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in First Assessment, MN
How much do homes in First Assessment, MN cost?
Median Sold Price
$377,450
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in First Assessment have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in First Assessment was $377,450 in May 2024, up 3.4% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319.9K | $150K | -53.1% |
| 2 Bedrooms | $299.9K | $286.5K | -4.5% |
| 3 Bedrooms | $345K | $370K | +7.2% |
| 4 Bedrooms | $485K | $412.5K | -14.9% |
| 5+ Bedrooms | $677.4K | $682.9K | +0.8% |
Summary: First Assessment housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.1%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes increased by 0.8%.
Housing Supply in First Assessment, MN
How many homes are available in First Assessment, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 41 | +20.6% |
Summary: The First Assessment real estate market had 41 homes for sale in May 2024, a 20.6% 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 | 3 | 6 | +100.0% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The First Assessment 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 100%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in First Assessment, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in First Assessment in May 2024, down by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for First Assessment, MN
How long does it take to sell a home in First Assessment, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 29 Days | -63.8% |
Summary: Homes in First Assessment had an average of 29 days on market in May 2024, down by 63.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in First Assessment are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in First Assessment; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
