Is 56378, 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, 56378 was a Buyer's Market.
Key Takeaway
56378 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 56378, MN
How much do homes in 56378, MN cost?
Median Sold Price
$260,000
$135/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 56378 have sold for 37.3% less than they did a month ago.
Summary: The median home sold price in 56378 was $260,000 in March 2024, down 37.3% from last month, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $260K | N/A |
| 3 Bedrooms | $415K | $212.4K | -48.8% |
| 4 Bedrooms | - | $382.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56378 housing prices by bedroom type for March 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 decreased by 48.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56378, MN
How many homes are available in 56378, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 31 | +40.9% |
Summary: The 56378 real estate market had 31 homes for sale in March 2024, a 40.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 56378 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56378, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56378 in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 56378, MN
How long does it take to sell a home in 56378, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 90 Days | 28 Days | -68.7% |
Summary: Homes in 56378 had an average of 28 days on market in Mar 2024, down by 68.7% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56378 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in 56378; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
