Is 56277, MN a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing 56277 is a seller's market


Difference Since February 2022

Since last year, 56277 has remained a Seller's Market.

Key Takeaway

56277 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56277, MN cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2022


Key Takeaway

Homes in 56277 have sold for 3.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2022Feb 2023%
1 --
2 $137.5K$131K
3 $140K$138.2K
4 $170K$218K
5+ $240K$375K

How many homes are available in 56277, MN?

Number of Homes For Sale

Jan 2023Feb 2023%

Homes For Sale By Bedroom Count

# BEDSJan 2023Feb 2023%
1 00
2 21
3 53
4 44
5+ 11

Number of Homes Sold

Jan 2023Feb 2023%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56277, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

Feb 2022Feb 2023%
55 Days60 Days+8.1%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56277 has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 56277, MN

There are 9 homes are for sale in 56277, MN real estate market. The number of homes for sale in 56277, MN decreased by 25% between January 2023 and February 2023. Listings spent 60 days on the market in February 2023, and had a median list price of $158,500 during the same period. From January 2023 through February 2023, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 0%, the cost of 2 bedrooms properties went down by 4.7%, prices of 3 bedrooms properties decreased by 1.3%, 4 bedrooms properties prices increased by 28.2%, prices of 5 bedrooms properties went up by 56.3%. This housing market inventory have changed: number of 1 bedroom homes remained the same, 2 bedrooms homes became 50% less available, number of 3 bedrooms homes decreased by 40%, the quantity of 4 bedrooms homes have not changed, the quantity of 5 bedrooms homes have not changed. In February 2023 more than 1 listings in 56277, MN were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 2 were sold below.