Is 56187, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56187 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 56187 has remained a Seller's Market.

Key Takeaway

56187 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56187, MN cost?

Median Sold Price

$215,000

$116/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$30,100(+16.3%)

Key Takeaway

Homes in 56187 have sold for 16.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $73.5K$64.5K
-12.2%
2 $135K$144.2K
+6.9%
3 $184.7K$195K
+5.6%
4 $199.5K$260K
+30.3%
5+ $256K$290K
+13.3%

How many homes are available in 56187, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
4734-27.7%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 22
0.0%
2 117
-36.4%
3 1411
-21.4%
4 1410
-28.6%
5+ 64
-33.3%

Number of Homes Sold

Nov 2021Dec 2021%
1619+18.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56187, you may be able to get a good deal. 78.9% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
68 Days42 Days-38.4%

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56187 are selling fast, if you're buying plan to act quickly.

About 56187, MN

There are 34 homes are for sale in 56187, MN real estate market. The number of homes for sale in 56187, MN decreased by 27.7% between November 2021 and December 2021. The median list price of listings available in December 2021 was $215,000, while the average time on the real estate market was 42 days. Real estate listing prices changed between November 2021 and December 2021: 1 bedroom properties prices decreased by 12.2%, 2 bedrooms properties prices increased by 6.9%, 3 bedrooms properties became 5.6% more expensive, prices of 4 bedrooms properties increased by 30.3%, prices of 5 bedrooms properties went up by 13.3%. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes became 36.4% less available, number of 3 bedrooms homes decreased by 21.4%, number of 4 bedrooms homes decreased by 28.6%, 5 bedrooms homes became 33.3% less available. While more than 3 listings in 56187, MN in December 2021 were sold above asking price, there were more than 1 listings sold at asking price, and more than 15 were sold below.