Is 56172, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56172 has remained a Seller's Market.
Key Takeaway
56172 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56172, MN
How much do homes in 56172, MN cost?
Median Sold Price
$125,000
$68/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 56172 have sold for 4.2% more than they did a month ago.
Summary: The median home sold price in 56172 was $125,000 in April 2024, up 4.2% from last month, and the median price per square foot was $68.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $155K | $95K | -38.7% |
| 3 Bedrooms | $120K | $229K | +90.8% |
| 4 Bedrooms | - | $112.5K | N/A |
| 5+ Bedrooms | $115K | - | N/A |
Summary: 56172 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.7%, 3 bedroom homes increased by 90.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56172, MN
How many homes are available in 56172, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The 56172 real estate market had 14 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 56172 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 33.3%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
5 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 56172, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56172 in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56172, MN
How long does it take to sell a home in 56172, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 28 Days | -4.7% |
Summary: Homes in 56172 had an average of 28 days on market in Apr 2024, down by 4.7% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56172 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 56172; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
