Is 56320, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 56320 was a Neutral Market.
Housing Prices in 56320, MN
How much do homes in 56320, MN cost?
Median Sold Price
$305,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 56320 was $305,000 in April 2024, down 3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | - | N/A |
2 Bedrooms | $271.2K | $294.9K | +8.7% |
3 Bedrooms | $270K | $323.5K | +19.8% |
4 Bedrooms | $347K | $315K | -9.2% |
5+ Bedrooms | $332.4K | $420K | +26.4% |
Summary: 56320 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 19.8%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes increased by 26.4%.
Housing Supply in 56320, MN
How many homes are available in 56320, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 39 | +25.8% |
Summary: The 56320 real estate market had 39 homes for sale in April 2024, a 25.8% 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 | 7 | 0.0% |
3 Bedrooms | 15 | 16 | +6.7% |
4 Bedrooms | 6 | 12 | +100.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56320 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 remained the same, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in 56320 in April 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 56320, MN
How long does it take to sell a home in 56320, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 48 Days | +90.9% |
Summary: Homes in 56320 had an average of 48 days on market in Apr 2024, up by 90.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 4 homes were sold in 56320; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.