Is 56303, 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, 56303 has remained a Seller's Market.
Key Takeaway
56303 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56303, MN
How much do homes in 56303, MN cost?
Median Sold Price
$225,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56303 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 56303 was $225,000 in April 2024, up 3% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119.9K | $100K | -16.6% |
| 2 Bedrooms | $165K | $181K | +9.7% |
| 3 Bedrooms | $205K | $221K | +7.8% |
| 4 Bedrooms | $245K | $242.7K | -0.9% |
| 5+ Bedrooms | $263.5K | $247K | -6.3% |
Summary: 56303 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.6%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes decreased by 6.3%.
Housing Supply in 56303, MN
How many homes are available in 56303, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 96 | 118 | +22.9% |
Summary: The 56303 real estate market had 118 homes for sale in April 2024, a 22.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 17 | 26 | +52.9% |
| 3 Bedrooms | 45 | 47 | +4.4% |
| 4 Bedrooms | 24 | 34 | +41.7% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The 56303 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 52.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 26 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56303, you could pay more than the asking price. 57.7% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 56303 in April 2024, the same as the previous month. Of the 26 sold homes, 27% were sold under asking, 15% were sold at asking, and 58% were sold over asking.
Days on Market for 56303, MN
How long does it take to sell a home in 56303, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 34 Days | -14.1% |
Summary: Homes in 56303 had an average of 34 days on market in Apr 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56303 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in 56303; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
