Is 56301, 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, 56301 has remained a Seller's Market.
Housing Prices in 56301, MN
How much do homes in 56301, MN cost?
Median Sold Price
$275,000
$136/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Summary: The median home sold price in 56301 was $275,000 in April 2024, the same as last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99.2K | $90K | -9.3% |
2 Bedrooms | $235K | $234.9K | 0% |
3 Bedrooms | $255.5K | $265K | +3.7% |
4 Bedrooms | $287.7K | $294.5K | +2.3% |
5+ Bedrooms | $345.4K | $334K | -3.3% |
Summary: 56301 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 3.3%.
Housing Supply in 56301, MN
How many homes are available in 56301, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
119 | 125 | +5.0% |
Summary: The 56301 real estate market had 125 homes for sale in April 2024, a 5.0% 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 | 18 | 18 | 0.0% |
3 Bedrooms | 41 | 39 | -4.9% |
4 Bedrooms | 39 | 46 | +17.9% |
5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The 56301 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 remained the same, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 36 | +50.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in 56301 in April 2024, up by 50.0% month-over-month. Of the 36 sold homes, 50% were sold under asking, 22% were sold at asking, and 28% were sold over asking.
Days on Market for 56301, MN
How long does it take to sell a home in 56301, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 55 Days | +29.2% |
Summary: Homes in 56301 had an average of 55 days on market in Apr 2024, up by 29.2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 36 homes were sold in 56301; 58% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.