Is 56353, 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, 56353 was a Seller's Market.
Key Takeaway
56353 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56353, MN
How much do homes in 56353, MN cost?
Median Sold Price
$290,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56353 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 56353 was $290,000 in April 2024, up 11.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121K | - | N/A |
| 2 Bedrooms | $215.5K | $244.5K | +13.4% |
| 3 Bedrooms | $255K | $294.7K | +15.6% |
| 4 Bedrooms | $331K | $324.7K | -1.9% |
| 5+ Bedrooms | $350K | $477.3K | +36.4% |
Summary: 56353 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 13.4%, 3 bedroom homes increased by 15.6%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 36.4%.
Median Sold Price Compared To Nearby Zip Codes
| 56353 | $260K | $290K | +11.5% |
| 56330 | $280K | $275K | -1.8% |
Housing Supply in 56353, MN
How many homes are available in 56353, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Summary: The 56353 real estate market had 35 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 12 | 18 | +50.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56353 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 increased by 20%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56353, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56353 in April 2024, down by 16.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 56353, MN
How long does it take to sell a home in 56353, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 50 Days | +1.3% |
Summary: Homes in 56353 had an average of 50 days on market in Apr 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56353 has remained consistent over time.
Summary: During April 2024, 5 homes were sold in 56353; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
