Is 56058, 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, 56058 was a Seller's Market.
Key Takeaway
56058 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56058, MN
How much do homes in 56058, MN cost?
Median Sold Price
$272,450
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56058 have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in 56058 was $272,450 in April 2024, down 2.7% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $82K | - | N/A |
| 2 Bedrooms | $175K | $207.5K | +18.6% |
| 3 Bedrooms | $236.8K | $256.2K | +8.2% |
| 4 Bedrooms | $302.5K | $317.7K | +5.0% |
| 5+ Bedrooms | $370K | $345K | -6.8% |
Summary: 56058 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 increased by 18.6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 6.8%.
Median Sold Price Compared To Nearby Zip Codes
| 56058 | $279.9K | $272.4K | -2.7% |
| 56057 | $295.9K | $270.9K | -8.5% |
| 56082 | $249.9K | $228.5K | -8.6% |
Housing Supply in 56058, MN
How many homes are available in 56058, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 19 | -13.6% |
Summary: The 56058 real estate market had 19 homes for sale in April 2024, a 13.6% decrease 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 4 | 1 | -75.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56058 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 decreased by 66.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56058, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56058 in April 2024, down by 57.1% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56058, MN
How long does it take to sell a home in 56058, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 46 Days | 92 Days | +99.0% |
Summary: Homes in 56058 had an average of 92 days on market in Apr 2024, up by 99% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56058 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 56058; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
