Is 56368, 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, 56368 was a Buyer's Market.
Key Takeaway
56368 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 56368, MN
How much do homes in 56368, MN cost?
Median Sold Price
$337,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56368 have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in 56368 was $337,000 in April 2024, up 7.4% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $134.9K | $130.7K | -3.1% |
| 2 Bedrooms | $248.7K | $275K | +10.6% |
| 3 Bedrooms | $361.2K | $359.9K | -0.4% |
| 4 Bedrooms | $449.9K | $505K | +12.2% |
| 5+ Bedrooms | $390K | $285K | -26.9% |
Summary: 56368 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.1%, 2 bedroom homes increased by 10.6%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 26.9%.
Housing Supply in 56368, MN
How many homes are available in 56368, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 25 | +31.6% |
Summary: The 56368 real estate market had 25 homes for sale in April 2024, a 31.6% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56368 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 40%, 3 bedroom homes increased by 60%, 4 bedroom homes remained the same, 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 56368, 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 56368 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 56368, MN
How long does it take to sell a home in 56368, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 175 Days | 34 Days | -80.4% |
Summary: Homes in 56368 had an average of 34 days on market in Apr 2024, down by 80.4% compared to last year.
Breakdown of Home Sale Times
3 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 56368 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 56368; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
