Is 56258, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 56258 has remained a Seller's Market.
Key Takeaway
56258 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56258, MN
How much do homes in 56258, MN cost?
Median Sold Price
$219,000
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56258 have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in 56258 was $219,000 in April 2024, up 5.4% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | - | N/A |
| 2 Bedrooms | $172.5K | $189.9K | +10.1% |
| 3 Bedrooms | $195K | $185.2K | -5.0% |
| 4 Bedrooms | $225K | $255K | +13.3% |
| 5+ Bedrooms | $348K | $260K | -25.3% |
Summary: 56258 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.1%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 25.3%.
Housing Supply in 56258, MN
How many homes are available in 56258, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 48 | +29.7% |
Summary: The 56258 real estate market had 48 homes for sale in April 2024, a 29.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56258 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 80%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56258, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56258 in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for 56258, MN
How long does it take to sell a home in 56258, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 69 Days | 44 Days | -36.4% |
Summary: Homes in 56258 had an average of 44 days on market in Apr 2024, down by 36.4% compared to last year.
Breakdown of Home Sale Times
6 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 56258 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 56258; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
