Is 56442, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 56442 was a Seller's Market.
Housing Prices in 56442, MN
How much do homes in 56442, MN cost?
Median Sold Price
$505,000
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 56442 was $505,000 in February 2024, down 1% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $141.9K | +5.1% |
2 Bedrooms | $347.5K | $374.9K | +7.9% |
3 Bedrooms | $635K | $590K | -7.1% |
4 Bedrooms | $785K | $910K | +15.9% |
5+ Bedrooms | $1.1M | $1.6M | +44.4% |
Summary: 56442 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 7.9%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 44.4%.
Median Sold Price Compared To Nearby Zip Codes
56442 | $510K | $505K | -1.0% |
56441 | $205K | $200K | -2.4% |
Housing Supply in 56442, MN
How many homes are available in 56442, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
18 | 26 | +44.4% |
Summary: The 56442 real estate market had 26 homes for sale in February 2024, a 44.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 3 | 9 | +200.0% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56442 housing inventory by bedroom type for February 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 200%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in 56442 in February 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56442, MN
How long does it take to sell a home in 56442, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
129 Days | 1 Day | -99.2% |
Summary: Homes in 56442 had an average of 1 days on market in Feb 2024, down by 99.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 1 homes were sold in 56442; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.