Is 56096, 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, 56096 was a Neutral Market.
Key Takeaway
56096 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56096, MN
How much do homes in 56096, MN cost?
Median Sold Price
$275,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56096 have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in 56096 was $275,000 in April 2024, up 0.9% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $89.9K | $47.5K | -47.2% |
| 2 Bedrooms | $205K | $280K | +36.6% |
| 3 Bedrooms | $232.5K | $256K | +10.1% |
| 4 Bedrooms | $358K | $289K | -19.3% |
| 5+ Bedrooms | $400K | $450K | +12.5% |
Summary: 56096 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.2%, 2 bedroom homes increased by 36.6%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 19.3%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Zip Codes
| 56096 | $272.5K | $275K | +0.9% |
| 56057 | $295.9K | $270.9K | -8.5% |
Housing Supply in 56096, MN
How many homes are available in 56096, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Summary: The 56096 real estate market had 16 homes for sale in April 2024, a 23.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56096 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 increased by 28.6%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56096, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56096 in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for 56096, MN
How long does it take to sell a home in 56096, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 65 Days | 89 Days | +36.1% |
Summary: Homes in 56096 had an average of 89 days on market in Apr 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56096 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 56096; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
