Is 56088, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56088 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 56088 has remained a Seller's Market.

Key Takeaway

56088 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56088, MN cost?

Median Sold Price

$125,000

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

-$500(-0.4%)

Key Takeaway

The sold price of homes in 56088 has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 --
N/A
2 $79K$125K
+58.2%
3 $146.5K$130.5K
-10.9%
4 $125.5K$160K
+27.5%
5+ $189.9K$160.9K
-15.2%

Median Sold Price Compared To Nearby Zip Codes

56031
+4.1%
56088
-0.4%

How many homes are available in 56088, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
97-22.2%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 31
-66.7%
3 44
0.0%
4 11
0.0%
5+ 11
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56088, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
221 Days25 Days-88.6%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56088 are selling fast, if you're buying plan to act quickly.

About 56088, MN

56088, MN has 7 homes for sale to choose from. The number of listings in 56088, MN decreased by 22.2% between November 2021 and December 2021. Listings spent 25 days on the market in December 2021, and had a median list price of $125,000 during the same period. This housing market listing prices have changed between November 2021 and December 2021: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties became 58.2% more expensive, 3 bedrooms properties became 10.9% more cheaper, 4 bedrooms properties prices increased by 27.5%, prices of 5 bedrooms properties went down by 15.2%. Volume of homes for sale changed: 1 bedroom homes inventory did not change, number of 2 bedrooms homes decreased by 66.7%, number of 3 bedrooms homes remained the same, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes remained the same. In December 2021 more than 2 listings in 56088, MN were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 1 were sold below.