Is 56447, 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, 56447 was a Seller's Market.
Key Takeaway
56447 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56447, MN
How much do homes in 56447, MN cost?
Median Sold Price
$329,550
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56447 have sold for 5.6% less than they did a year ago.
Summary: The median home sold price in 56447 was $329,550 in April 2024, down 5.6% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $460K | $240K | -47.8% |
| 2 Bedrooms | $219K | $250K | +14.2% |
| 3 Bedrooms | $370K | $348.5K | -5.8% |
| 4 Bedrooms | $487.5K | $599.9K | +23.1% |
| 5+ Bedrooms | $315K | $333.5K | +5.9% |
Summary: 56447 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.8%, 2 bedroom homes increased by 14.2%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Zip Codes
| 56662 | $380K | $479.9K | +26.3% |
| 56442 | $522.5K | $499.9K | -4.3% |
| 56441 | $211K | $200K | -5.2% |
| 56447 | $349K | $329.5K | -5.6% |
Housing Supply in 56447, MN
How many homes are available in 56447, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Summary: The 56447 real estate market had 11 homes for sale in April 2024, a 175.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 2 | 4 | +100.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56447 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56447, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56447 in April 2024, up by 100.0% 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 56447, MN
How long does it take to sell a home in 56447, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 84 Days | +641.2% |
Summary: Homes in 56447 had an average of 84 days on market in Apr 2024, up by 641.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56447 has remained consistent over time.
Summary: During April 2024, 1 homes were sold in 56447; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
