Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 11% from one year earlier, and up 11% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was 120-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 200%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 160-thousand dollars. The number of units sold was consistent year-over-year, and decreased 33% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for Mankato, MN
Area Information for Mankato, MN
Median Age:26.53 yr
Median Commute Time:11.3 mins
Population Density:2,212/sq mi
Population Change Since 2000:18.7%
Closest Airport:Minneapolis-st Paul International/wold-chamberlain