Is 56450, 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, 56450 was a Seller's Market.
Housing Prices in 56450, MN
How much do homes in 56450, MN cost?
Median Sold Price
$265,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 56450 was $265,000 in April 2024, down 1.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212K | $179.9K | -15.1% |
2 Bedrooms | $200K | $265K | +32.5% |
3 Bedrooms | $285K | $299.9K | +5.2% |
4 Bedrooms | $300K | $335K | +11.7% |
5+ Bedrooms | $785K | $419K | -46.6% |
Summary: 56450 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.1%, 2 bedroom homes increased by 32.5%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 46.6%.
Housing Supply in 56450, MN
How many homes are available in 56450, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 14 | +55.6% |
Summary: The 56450 real estate market had 14 homes for sale in April 2024, a 55.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 3 | 6 | +100.0% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56450 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
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 56450 in April 2024, down by 66.7% 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 56450, MN
How long does it take to sell a home in 56450, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
139 Days | 17 Days | -87.8% |
Summary: Homes in 56450 had an average of 17 days on market in Apr 2024, down by 87.8% 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 April 2024, 1 homes were sold in 56450; 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.