Is 56048, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56048 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 56048 has remained a Seller's Market.

Key Takeaway

56048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56048, MN cost?

Median Sold Price

$247,935

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$69,185(+38.7%)

Key Takeaway

Homes in 56048 have sold for 38.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 -$52K
N/A
2 $157.8K$251K
+59.0%
3 $180K$226K
+25.6%
4 $185K$269.9K
+45.9%
5+ -$337.7K
N/A

How many homes are available in 56048, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
1314+7.7%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 11
0.0%
2 22
0.0%
3 45
+25.0%
4 55
0.0%
5+ 11
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
07+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56048, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
45 Days13 Days-69.5%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56048 are selling fast, if you're buying plan to act quickly.

About 56048, MN

56048, MN has 14 homes on the market. Between November 2021 and December 2021, 56048, MN real estate market has seen increase in the number of listings by 7.7%. In December 2021 median list price was $247,935 and the average listing age was 13 days. From November 2021 through December 2021, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties went up by 59%, 3 bedrooms properties became 25.6% more expensive, prices of 4 bedrooms properties went up by 45.9%, 5 bedrooms properties became 0% more expensive. Volume of homes for sale changed: 1 bedroom homes did not move, 2 bedrooms homes did not move, number of 3 bedrooms homes increased by 25%, 4 bedrooms homes did not move, number of 5 bedrooms homes remained the same. Over 1 listings were sold over their listed price in December 2021 in 56048, MN. In the same period over 3 listings were sold below the listed price and 3 listings were sold for the listed price.