Is 56001, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 56001 was a Neutral Market.
Housing Prices in 56001, MN
How much do homes in 56001, MN cost?
Median Sold Price
$275,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56001 was $275,000 in March 2024, down 9.4% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $130K | N/A |
2 Bedrooms | $229.9K | $243.9K | +6.1% |
3 Bedrooms | $227.5K | $259.9K | +14.2% |
4 Bedrooms | $345K | $310K | -10.1% |
5+ Bedrooms | $395K | $369.4K | -6.5% |
Summary: 56001 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 14.2%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Zip Codes
56003 | $309.9K | $293K | -5.5% |
56001 | $303.5K | $275K | -9.4% |
Housing Supply in 56001, MN
How many homes are available in 56001, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 59 | +25.5% |
Summary: The 56001 real estate market had 59 homes for sale in March 2024, a 25.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 13 | +30.0% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 12 | 17 | +41.7% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The 56001 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 6 | -40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in 56001 in March 2024, down by 40.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for 56001, MN
How long does it take to sell a home in 56001, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
57 Days | 102 Days | +77.3% |
Summary: Homes in 56001 had an average of 102 days on market in Mar 2024, up by 77.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in 56001; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.