Is 56220, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56220 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 56220 was a Neutral Market.

Key Takeaway

56220 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56220, MN cost?

Median Sold Price

$101,450

$58/sqft

Based on all homes sold in December 2021.

Difference Since Last Month

-$78,450(-43.6%)

Key Takeaway

Homes in 56220 have sold for 43.6% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Dec 2021%
1 -$36.5K
N/A
2 -$125.2K
N/A
3 --
N/A
4 $282.9K$140K
-50.5%
5+ $81.9K-
N/A

How many homes are available in 56220, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
18180.0%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 11
0.0%
2 34
+33.3%
3 46
+50.0%
4 86
-25.0%
5+ 21
-50.0%

Number of Homes Sold

Nov 2021Dec 2021%
34+33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56220, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Dec 2021%
21 Days23 Days+7.3%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56220 are selling fast, if you're buying plan to act quickly.

About 56220, MN

There are 18 homes are for sale in 56220, MN real estate market. While the average time on the market in December 2021 was 23 days, the median list price was $101,450. This housing market listing prices have changed between December 2020 and December 2021: the cost of 1 bedroom properties went up by 0%, 2 bedrooms properties became 0% more expensive, prices of 3 bedrooms properties increased by 0%, the cost of 4 bedrooms properties went down by 50.5%, 5 bedrooms properties became 0% more expensive. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes inventory increased by 33.3%, volume of 3 bedrooms homes went up by 50%, number of 4 bedrooms homes decreased by 25%, volume of 5 bedrooms homes went down by 50%. While more than 2 listings in 56220, MN in December 2021 were sold above asking price, there were more than 0 listings sold at asking price, and more than 2 were sold below.