Is 56435, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 56435 has remained a Seller's Market.
Housing Prices in 56435, MN
How much do homes in 56435, MN cost?
Median Sold Price
$270,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56435 was $270,000 in March 2024, up 18.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $146K | $55K | -62.3% |
2 Bedrooms | $218K | $287.4K | +31.9% |
3 Bedrooms | $220K | $268K | +21.8% |
4 Bedrooms | $469K | $325K | -30.7% |
5+ Bedrooms | $425K | $472.7K | +11.2% |
Summary: 56435 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.3%, 2 bedroom homes increased by 31.9%, 3 bedroom homes increased by 21.8%, 4 bedroom homes decreased by 30.7%, and 5+ bedroom homes increased by 11.2%.
Housing Supply in 56435, MN
How many homes are available in 56435, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 19 | +5.6% |
Summary: The 56435 real estate market had 19 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 6 | 8 | +33.3% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56435 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 decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 7 | +600.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 56435 in March 2024, up by 600.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for 56435, MN
How long does it take to sell a home in 56435, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
169 Days | 58 Days | -65.5% |
Summary: Homes in 56435 had an average of 58 days on market in Mar 2024, down by 65.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in 56435; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.