Is 56360, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 56360 has remained a Seller's Market.
Key Takeaway
56360 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56360, MN
How much do homes in 56360, MN cost?
Median Sold Price
$275,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56360 have sold for 10% more than they did a year ago.
Summary: The median home sold price in 56360 was $275,000 in April 2024, up 10% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74K | $143K | +93.2% |
| 2 Bedrooms | $165.3K | $170K | +2.8% |
| 3 Bedrooms | $265K | $335K | +26.4% |
| 4 Bedrooms | $290K | $340K | +17.2% |
| 5+ Bedrooms | $250K | $472.5K | +89.0% |
Summary: 56360 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.2%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 26.4%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 89%.
Median Sold Price Compared To Nearby Zip Codes
| 56360 | $250K | $275K | +10.0% |
| 56347 | $200K | $210K | +5.0% |
Housing Supply in 56360, MN
How many homes are available in 56360, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 28 | +55.6% |
Summary: The 56360 real estate market had 28 homes for sale in April 2024, a 55.6% 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 | 7 | 9 | +28.6% |
| 3 Bedrooms | 8 | 12 | +50.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 56360 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 28.6%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56360, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 56360 in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for 56360, MN
How long does it take to sell a home in 56360, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 100 Days | 11 Days | -88.1% |
Summary: Homes in 56360 had an average of 11 days on market in Apr 2024, down by 88.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56360 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 56360; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
