Excelsior, MN Real Estate & Homes for Sale

In December 2024, Excelsior's real estate market saw a dramatic 255% increase in home prices compared to the previous year, with the median price reaching $1.8 million. Despite this surge, homes sold faster, averaging 46 days on the market—an improvement from 63 days last year. While the number of homes sold remained steady at three, the substantial price jump suggests a shift in buyer demand, potentially driven by limited inventory, increased desirability, or broader market trends influencing high-end real estate.

Excelsior's real estate market is moderately competitive, with homes typically selling within 35 days. While some properties receive multiple offers, most homes sell for about 2% below the list price before going under contract. However, highly desirable "hot" homes tend to sell much faster, often securing buyers at or near the asking price and going pending in as little as 16 days. This indicates that while buyers still have some negotiating power, well-priced and in-demand properties can move quickly.

As of January 2025, Excelsior, MN, is experiencing a buyer's market, meaning there are more homes available than there are buyers actively looking. This surplus of inventory gives buyers more negotiating power, potentially leading to price reductions, seller concessions, or longer days on the market. For sellers, strategic pricing and strong marketing are key to standing out in a market where competition among listings is higher.