Is Saint Michael, 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, Saint Michael has remained a Seller's Market.
Housing Prices in Saint Michael, MN
How much do homes in Saint Michael, MN cost?
Median Sold Price
$434,633
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Saint Michael was $434,633 in May 2024, up 1.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $295K | $309.9K | +5.1% |
3 Bedrooms | $374K | $379.9K | +1.6% |
4 Bedrooms | $455K | $477.6K | +5.0% |
5+ Bedrooms | $484.9K | $522.4K | +7.7% |
Summary: Saint Michael 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 increased by 5.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
Otsego | $415.7K | $424.9K | +2.2% |
Saint Michael | $430K | $434.6K | +1.1% |
Albertville | $370K | $370K | 0.0% |
Hanover | $435K | $435K | 0.0% |
Hassan Township | $539K | $482.4K | -10.5% |
Housing Supply in Saint Michael, MN
How many homes are available in Saint Michael, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
153 | 171 | +11.8% |
Summary: The Saint Michael real estate market had 171 homes for sale in May 2024, a 11.8% 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 | 13 | 13 | 0.0% |
3 Bedrooms | 58 | 61 | +5.2% |
4 Bedrooms | 51 | 60 | +17.6% |
5+ Bedrooms | 31 | 37 | +19.4% |
Summary: The Saint Michael 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 remained the same, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 36 | +12.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Saint Michael in May 2024, up by 12.5% month-over-month. Of the 36 sold homes, 36% were sold under asking, 36% were sold at asking, and 28% were sold over asking.
Days on Market for Saint Michael, MN
How long does it take to sell a home in Saint Michael, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 33 Days | +42.1% |
Summary: Homes in Saint Michael had an average of 33 days on market in May 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in Saint Michael; 64% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.