Is 56334, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56334 has remained a Buyer's Market.
Key Takeaway
56334 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56334, MN
How much do homes in 56334, MN cost?
Median Sold Price
$320,000
$189/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 56334 have sold for 85.5% more than they did a month ago.
Summary: The median home sold price in 56334 was $320,000 in March 2024, up 85.5% from last month, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $245K | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $320K | N/A |
| 4 Bedrooms | $172.5K | - | N/A |
| 5+ Bedrooms | - | $914.9K | N/A |
Summary: 56334 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56334, MN
How many homes are available in 56334, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 32 | +52.4% |
Summary: The 56334 real estate market had 32 homes for sale in March 2024, a 52.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 5 | 12 | +140.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 56334 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 140%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
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 56334, 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 56334 in March 2024, up by 200.0% 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 56334, MN
How long does it take to sell a home in 56334, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 145 Days | +246.8% |
Summary: Homes in 56334 had an average of 145 days on market in Mar 2024, up by 246.8% compared to last month.
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 56334 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 56334; 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.
