Is 56329, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 56329 has remained a Seller's Market.
Key Takeaway
56329 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56329, MN
How much do homes in 56329, MN cost?
Median Sold Price
$265,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 56329 have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in 56329 was $265,000 in March 2024, up 4.3% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | - | N/A |
| 2 Bedrooms | $213.2K | $166K | -22.2% |
| 3 Bedrooms | $215.5K | $239.7K | +11.3% |
| 4 Bedrooms | $281K | $322.5K | +14.8% |
| 5+ Bedrooms | $352.1K | $464.4K | +31.9% |
Summary: 56329 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 decreased by 22.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Zip Codes
| 56379 | $265K | $283.2K | +6.9% |
| 56329 | $254K | $265K | +4.3% |
Housing Supply in 56329, MN
How many homes are available in 56329, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The 56329 real estate market had 13 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 56329 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 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 56329, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56329 in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 56329, MN
How long does it take to sell a home in 56329, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 91 Days | +487.1% |
Summary: Homes in 56329 had an average of 91 days on market in Mar 2024, up by 487.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56329 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 3 homes were sold in 56329; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
