Is 56265, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 56265 was a Seller's Market.
Key Takeaway
56265 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56265, MN
How much do homes in 56265, MN cost?
Median Sold Price
$177,900
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56265 have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in 56265 was $177,900 in April 2024, up 12.5% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $211K | +322.0% |
| 2 Bedrooms | $125.5K | $124.4K | -0.8% |
| 3 Bedrooms | $159.5K | $182.4K | +14.4% |
| 4 Bedrooms | $185.3K | $222K | +19.8% |
| 5+ Bedrooms | $438.7K | $340K | -22.5% |
Summary: 56265 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 322%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes decreased by 22.5%.
Median Sold Price Compared To Nearby Zip Codes
| 56241 | $143.5K | $172K | +19.9% |
| 56265 | $158.1K | $177.9K | +12.5% |
Housing Supply in 56265, MN
How many homes are available in 56265, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 48 | +26.3% |
Summary: The 56265 real estate market had 48 homes for sale in April 2024, a 26.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56265 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
7 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 56265, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 56265 in April 2024, up by 40.0% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56265, MN
How long does it take to sell a home in 56265, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 121 Days | 64 Days | -46.9% |
Summary: Homes in 56265 had an average of 64 days on market in Apr 2024, down by 46.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56265 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 56265; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
