Is 56201, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56201 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 56201 has remained a Seller's Market.

Key Takeaway

56201 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56201, MN cost?

Median Sold Price

$185,000

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$5,200(+2.9%)

Key Takeaway

Homes in 56201 have sold for 2.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $73.3K$79.9K
+8.9%
2 $145K$142K
-2.1%
3 $159.5K$165K
+3.4%
4 $210K$225K
+7.1%
5+ $349.9K$325K
-7.1%

Median Sold Price Compared To Nearby Zip Codes

56282
+64.7%
56288
+19.7%
56201
+2.9%

How many homes are available in 56201, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
9885-13.3%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 23
+50.0%
2 1310
-23.1%
3 3131
0.0%
4 4434
-22.7%
5+ 87
-12.5%

Number of Homes Sold

Nov 2021Dec 2021%
3021-30.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56201, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
45 Days32 Days-27.9%

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56201 are selling fast, if you're buying plan to act quickly.

About 56201, MN

There are 85 homes are for sale in 56201, MN real estate market. In December 2021 in 56201, MN there were 13.3% less homes for sale than in November 2021. In December 2021, listings were on the market for 32 days. During the same period, the median list price in this real estate market was $185,000. Between November 2021 and December 2021, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 8.9%, 2 bedrooms properties became 2.1% more cheaper, 3 bedrooms properties became 3.4% more expensive, prices of 4 bedrooms properties increased by 7.1%, 5 bedrooms properties prices decreased by 7.1%. Housing inventory have changed in this real estate market: 1 bedroom homes became 50% more available, number of 2 bedrooms homes decreased by 23.1%, volume of 3 bedrooms homes stayed the same, the quantity of 4 bedrooms homes went down by 22.7%, the quantity of 5 bedrooms homes went down by 12.5%. Over 10 listings were sold over their listed price in December 2021 in 56201, MN. In the same period over 8 listings were sold below the listed price and 3 listings were sold for the listed price.