Is 56373, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 56373 was a Neutral Market.
Key Takeaway
56373 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56373, MN
How much do homes in 56373, MN cost?
Median Sold Price
$220,000
$115/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in 56373 have sold for 31.2% less than they did a month ago.
Summary: The median home sold price in 56373 was $220,000 in May 2024, down 31.2% from last month, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $112K | N/A |
| 3 Bedrooms | - | $220K | N/A |
| 4 Bedrooms | $319.9K | - | N/A |
| 5+ Bedrooms | - | $572.5K | N/A |
Summary: 56373 housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56314 | $220K | $170K | -22.7% |
| 56373 | $319.9K | $220K | -31.2% |
Housing Supply in 56373, MN
How many homes are available in 56373, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 13 | +85.7% |
Summary: The 56373 real estate market had 13 homes for sale in May 2024, a 85.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 56373 housing inventory by bedroom type for May 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 50%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56373, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56373 in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 56373, MN
How long does it take to sell a home in 56373, MN?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 167 Days | 46 Days | -72.3% |
Summary: Homes in 56373 had an average of 46 days on market in May 2024, down by 72.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56373 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in 56373; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
