Is 56338, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56338 is a seller's market

Buyer's
Market

Difference Since December 2020

At the same time last year, 56338 was a Buyer's Market.

Key Takeaway

56338 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56338, MN cost?

Median Sold Price

$307,500

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$64,500(+26.5%)

Key Takeaway

Homes in 56338 have sold for 26.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $247.7K$409.8K
+65.4%
2 $185K$265K
+43.2%
3 $241.5K$295.4K
+22.3%
4 $352.5K$391.5K
+11.1%
5+ $425K$255.9K
-39.8%

Median Sold Price Compared To Nearby Zip Codes

56338
+26.5%
56359
+13.5%
56329
+10.7%

How many homes are available in 56338, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
64-33.3%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 01
+100.0%
2 31
-66.7%
3 10
-100.0%
4 22
0.0%
5+ 00
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
330.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56338, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
301 Days35 Days-88.3%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56338 has remained consistent over time.

About 56338, MN

Number of homes for sale in 56338, MN real estate market have reached 4. Between November 2021 and December 2021, 56338, MN real estate market has seen decrease in the number of listings by 33.3%. In December 2021, listings were on the market for 35 days. During the same period, the median list price in this real estate market was $307,500. Real estate listing prices changed between November 2021 and December 2021: 1 bedroom properties prices increased by 65.4%, prices of 2 bedrooms properties increased by 43.2%, 3 bedrooms properties prices increased by 22.3%, 4 bedrooms properties became 11.1% more expensive, the cost of 5 bedrooms properties went down by 39.8%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went up by 100%, 2 bedrooms homes became 66.7% less available, 3 bedrooms homes became 100% less available, volume of 4 bedrooms homes stayed the same, 5 bedrooms homes inventory did not change. In December 2021 more than 1 listings in 56338, MN were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 2 were sold below.