Is 56310, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 56310 was a Seller's Market.
Key Takeaway
56310 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56310, MN
How much do homes in 56310, MN cost?
Median Sold Price
$332,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 56310 have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in 56310 was $332,500 in March 2024, up 5.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189K | - | N/A |
| 2 Bedrooms | $260K | $329.2K | +26.6% |
| 3 Bedrooms | $272.5K | $341K | +25.1% |
| 4 Bedrooms | $406K | $360K | -11.3% |
| 5+ Bedrooms | $526K | - | N/A |
Summary: 56310 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.6%, 3 bedroom homes increased by 25.1%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes did not change.
Housing Supply in 56310, MN
How many homes are available in 56310, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 16 | +77.8% |
Summary: The 56310 real estate market had 16 homes for sale in March 2024, a 77.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56310 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 100%, 3 bedroom homes increased by 150%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56310, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 56310 in March 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 56310, MN
How long does it take to sell a home in 56310, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 120 Days | +186.9% |
Summary: Homes in 56310 had an average of 120 days on market in Mar 2024, up by 186.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 56310 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 1 homes were sold in 56310; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
