Is 56367, 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, 56367 was a Buyer's Market.
Key Takeaway
56367 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 56367, MN
How much do homes in 56367, MN cost?
Median Sold Price
$295,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56367 have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in 56367 was $295,000 in April 2024, down 0.7% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $259.2K | $257.4K | -0.7% |
| 3 Bedrooms | $310K | $287.4K | -7.3% |
| 4 Bedrooms | $299.8K | $326K | +8.7% |
| 5+ Bedrooms | $630K | $465K | -26.2% |
Summary: 56367 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 decreased by 0.7%, 3 bedroom homes decreased by 7.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 26.2%.
Housing Supply in 56367, MN
How many homes are available in 56367, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Summary: The 56367 real estate market had 27 homes for sale in April 2024, a 35.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 4 | 8 | +100.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 56367 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56367, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56367 in April 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 56367, MN
How long does it take to sell a home in 56367, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 82 Days | 73 Days | -10.4% |
Summary: Homes in 56367 had an average of 73 days on market in Apr 2024, down by 10.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56367 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 56367; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
