Herman Housing Market Report May 2025•Grant County, Minnesota

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Housing Prices in Herman, MN

How much do homes in Herman, MN cost?

Housing Market Conditions

Is Herman, 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

Herman is a Seller's Market

Difference Since May 2024

Since last year, Herman has remained a Seller's Market.

Insight

Herman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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.
$123,000$98/SqFt
-$47,000
-27.6%

Based on all homes sold in the last 12 months

Insight

Homes in Herman have sold for 27.6% less than they did a year ago.

Summary: The median home sold price in Herman was $123,000 in May 2025, down 27.6% from last year, and the median price per square foot was $98.

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.
BedsMay 2024May 2025Change YoY
1--
N/A
2$79.9K$82.5K
+3.3%
3$173K$125K
-27.7%
4$147.5K$207.5K
+40.7%
5--
N/A

Summary: Herman housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +3.3%. The home price for 3 bedroom homes decreased by -27.7%. The home price for 4 bedroom homes increased by +40.7%. The home price for 5 bedroom homes did not change.

How does Herman, MN compare with other places?

Market comparison tool

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

Herman, MN

Housing supply in Herman, MN

How many homes are available in Herman, 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
2Last MonthMay 2025
42 months agoApr 2025
-50.0 %
Change MoMApr – May

Summary: The Herman real estate market had 2 homes for sale in May 2025, a 50.0 % decrease compared to Apr 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
1Last MonthMay 2025
22 months agoApr 2025
-50.0 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
100
0.0%
200
0.0%
332
-33.3%
410
-100.0%
500
0.0%

Summary: Herman housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -33.3%. The inventory for 4 bedroom homes decreased by -100.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Herman, 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 Price0 Home

Under Asking Price0 Home

Insight

If you're buying a home in Herman, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Herman in May 2025, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and and 100% were sold over asking.

Days on Market for Herman, MN

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

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

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

Summary: During May 2025, 1 homes were sold in Herman; 100% of homes were sold within 30 days, 0% 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 YearMay 2025
117 Days1 year agoMay 2024
-75.2 %
Change YoYMay 2024 – May 2025

Summary: Homes in Herman had an average listing age of 29 days in May 2025, down by 75.2% compared to the previous year.

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Newest Listings in Herman, MN

What homes are available in Herman, MN?

New listings aren’t available for Herman, MN

Nearby markets

Nearby markets aren't available for Herman, MN

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