First Assessment Housing Market Report March 2025•Crow Wing County, Minnesota

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Housing Prices in First Assessment, MN

How much do homes in First Assessment, MN cost?

Housing Market Conditions

Is First Assessment, MN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

First Assessment is a Buyer's Market

Difference Since March 2024

At the same time last year, First Assessment was a Seller's Market.

Insight

First Assessment is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$413,000$190/SqFt
+$49,000
+13.5%

Based on all homes sold in the last 12 months

Insight

Homes in First Assessment have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in First Assessment was $413,000 in March 2025, up 13.5% from last year, and the median price per square foot was $190.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
First Assessment
+13.5%
Brainerd
+10.8%
Baxter
+2.3%
East Gull Lake
-11.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$150K$259.9K
+73.3%
2$325K$247.5K
-23.8%
3$338K$435K
+28.7%
4$400K$409K
+2.3%
5$664K$676.4K
+1.9%

Summary: First Assessment housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +73.3%. The home price for 2 bedroom homes decreased by -23.8%. The home price for 3 bedroom homes increased by +28.7%. The home price for 4 bedroom homes increased by +2.3%. The home price for 5 bedroom homes increased by +1.9%.

How does First Assessment, MN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

First Assessment, MN

Housing supply in First Assessment, MN

How many homes are available in First Assessment, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
33Last MonthMar 2025
252 months agoFeb 2025
+32.0 %
Change MoMFeb – Mar

Summary: The First Assessment real estate market had 33 homes for sale in Mar 2025, a 32.0 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthMar 2025
32 months agoFeb 2025
-33.3 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
101
+100.0%
266
0.0%
3711
+57.1%
488
0.0%
547
+75.0%

Summary: First Assessment housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +57.1%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +75.0%.

Asking Price vs. Sold Price

How much do homes in First Assessment, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price1 Home

Under Asking Price0 Home

Insight

If you're buying a home in First Assessment, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in First Assessment in March 2025, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and and 50% were sold over asking.

Days on Market for First Assessment, MN

How long does it take to sell a home in First Assessment, MN?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Many homes in First Assessment are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 2 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.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
29 DaysThis YearMar 2025
65 Days1 year agoMar 2024
-55.7 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in First Assessment had an average listing age of 29 days in Mar 2025, down by 55.7% compared to the previous year.

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Newest Listings in First Assessment, MN

What homes are available in First Assessment, MN?

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Last updated on: 4/26/2025, 11:22:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.