Is New Prague, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Prague has remained a Seller's Market.
Housing Prices in New Prague, MN
How much do homes in New Prague, MN cost?
Median Sold Price
$389,950
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Prague was $389,950 in May 2024, up 6.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $323.5K | - | N/A |
2 Bedrooms | $245K | $225.7K | -7.9% |
3 Bedrooms | $315K | $336K | +6.7% |
4 Bedrooms | $422.5K | $399.5K | -5.4% |
5+ Bedrooms | $449.9K | $475K | +5.6% |
Summary: New Prague housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
New Prague | $365K | $389.9K | +6.8% |
New Prague | $367.4K | $389.9K | +6.1% |
Housing Supply in New Prague, MN
How many homes are available in New Prague, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 54 | +22.7% |
Summary: The New Prague real estate market had 54 homes for sale in May 2024, a 22.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 14 | 16 | +14.3% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 9 | 15 | +66.7% |
Summary: The New Prague housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 14 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in New Prague in May 2024, the same as the previous month. Of the 14 sold homes, 50% were sold under asking, 7% were sold at asking, and 43% were sold over asking.
Days on Market for New Prague, MN
How long does it take to sell a home in New Prague, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 28 Days | +86.8% |
Summary: Homes in New Prague had an average of 28 days on market in May 2024, up by 86.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in New Prague; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.