Is 56304, 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, 56304 has remained a Seller's Market.
Key Takeaway
56304 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56304, MN
How much do homes in 56304, MN cost?
Median Sold Price
$265,000
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56304 have sold for 20.2% more than they did a year ago.
Summary: The median home sold price in 56304 was $265,000 in April 2024, up 20.2% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $105K | -58.8% |
| 2 Bedrooms | $175K | $168K | -4.0% |
| 3 Bedrooms | $210K | $265K | +26.2% |
| 4 Bedrooms | $253.9K | $272.5K | +7.3% |
| 5+ Bedrooms | $339.9K | $345K | +1.5% |
Summary: 56304 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 58.8%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 1.5%.
Housing Supply in 56304, MN
How many homes are available in 56304, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 65 | +12.1% |
Summary: The 56304 real estate market had 65 homes for sale in April 2024, a 12.1% 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 | 6 | -14.3% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The 56304 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 decreased by 14.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 19 | +72.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56304, you could pay more than the asking price. 36.8% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in 56304 in April 2024, up by 72.7% month-over-month. Of the 19 sold homes, 32% were sold under asking, 32% were sold at asking, and 37% were sold over asking.
Days on Market for 56304, MN
How long does it take to sell a home in 56304, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 47 Days | +81.7% |
Summary: Homes in 56304 had an average of 47 days on market in Apr 2024, up by 81.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56304 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in 56304; 53% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
