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Stillwater Real Estate Market Report – December 16th 2024

Richard McDonough
Dec 16 4 minutes read

As the year winds down, the Stillwater, MN real estate market continues to hold its ground with a slight seller's advantage, offering both opportunities and challenges for buyers and sellers alike. Here’s an in-depth look at the latest trends shaping the market in our beautiful 55082 zip code.

Key Market Metrics

$562,000

Median List Price

$437,500

Median Price of New Listings

$248

Price Per Square Foot

$3,450

Median Rent

Market Highlights

1. A Seller’s Market with Stabilizing Prices

The Market Action Index (MAI), a reliable indicator of market health, increased from 41 to 43 this month. This subtle upward trend suggests a strengthening market favoring sellers. However, prices have reached a plateau, with no significant upward movement. Should buyer activity increase further, we may see a renewed climb in home values.

2. Inventory Challenges

Available homes for sale have decreased to 52, reflecting tight inventory. This reduction could potentially amplify competition among buyers, especially for well-priced and desirable properties. Despite this, the market hasn’t fully transitioned to a high-demand phase, as reflected in the plateauing prices.

3. Pricing Segments

The market is diverse, with home prices segmented into quartiles:

  • Top Tier: $1,410,946 median price, 5+ bedrooms, larger lots.
  • Upper Mid-Tier: $848,000 median price, 4 bedrooms.
  • Lower Mid-Tier: $482,900 median price, 4 bedrooms, smaller lots.
  • Bottom Tier: $365,000 median price, 3 bedrooms, more modest homes.

Each segment behaves differently, with higher-priced homes typically staying on the market longer.

4. Days on Market (DOM)

Homes in Stillwater have a median DOM of 42 days, though higher-priced properties can linger for longer periods. If you’re a seller, this metric emphasizes the importance of strategic pricing and robust marketing to attract timely offers.

 

What This Means for Buyers and Sellers

For Buyers:

This is a time to act with decisiveness. With inventory low, it’s important to work closely with a knowledgeable agent who can help you navigate the competition and identify opportunities before they disappear.

For Sellers:

If you’ve been considering listing your home, now is an excellent time. The slight seller’s market gives you leverage, but to stand out, presenting your home in its best light is critical. Professional staging, high-quality photography, and targeted marketing strategies can make all the difference.

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Luxury Homes in Stillwater

As a top-producing Realtor in Stillwater, specializing in luxury homes, I understand the nuances of this market. Whether you’re selling a sprawling estate or searching for your dream home, my personalized marketing approach ensures results.

Let’s make your real estate goals a reality as we enter 2025. Contact me today to discuss your next move!

For a detailed report or personalized market insights, reach out anytime. I’m here to guide you through every step of your real estate journey.

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