Is 56307, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 56307 was a Buyer's Market.
Key Takeaway
56307 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56307, MN
How much do homes in 56307, MN cost?
Median Sold Price
$239,200
$114/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 56307 have sold for 57.4% more than they did a month ago.
Summary: The median home sold price in 56307 was $239,200 in March 2024, up 57.4% from last month, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $293.4K | N/A |
| 3 Bedrooms | $152K | $217.1K | +42.8% |
| 4 Bedrooms | - | $232K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56307 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 42.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56307, MN
How many homes are available in 56307, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The 56307 real estate market had 11 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56307 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56307, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 56307 in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56307, MN
How long does it take to sell a home in 56307, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 40 Days | +93.3% |
Summary: Homes in 56307 had an average of 40 days on market in Mar 2024, up by 93.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56307 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in 56307; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
