Is 56003, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 56003 was a Seller's Market.
Housing Prices in 56003, MN
How much do homes in 56003, MN cost?
Median Sold Price
$290,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 56003 was $290,000 in April 2024, down 5.5% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $245.6K | $232K | -5.5% |
3 Bedrooms | $234.7K | $265.5K | +13.1% |
4 Bedrooms | $330.7K | $302.5K | -8.5% |
5+ Bedrooms | $485K | $390.5K | -19.5% |
Summary: 56003 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 13.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 19.5%.
Median Sold Price Compared To Nearby Zip Codes
56050 | $257.5K | $370K | +43.7% |
56001 | $296.2K | $283K | -4.5% |
56003 | $306.9K | $290K | -5.5% |
56082 | $249.9K | $228.5K | -8.6% |
Housing Supply in 56003, MN
How many homes are available in 56003, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 30 | +36.4% |
Summary: The 56003 real estate market had 30 homes for sale in April 2024, a 36.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 9 | 11 | +22.2% |
4 Bedrooms | 6 | 10 | +66.7% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 56003 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 56003 in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 56003, MN
How long does it take to sell a home in 56003, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 33 Days | +178.3% |
Summary: Homes in 56003 had an average of 33 days on market in Apr 2024, up by 178.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in 56003; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.