Is 56461, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2022
At the same time last year, 56461 was a Seller's Market.
Key Takeaway
56461 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
How much do homes in 56461, MN cost?
Median Sold Price
$272,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2022
+$23,000(+9.2%)
Key Takeaway
Homes in 56461 have sold for 9.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Feb 2022 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | $155.5K | $130K | -16.4% |
| 2 Bedrooms | $237.5K | $160K | -32.6% |
| 3 Bedrooms | $237.9K | $275.5K | +15.8% |
| 4 Bedrooms | $319.9K | $442.4K | +38.3% |
| 5+ Bedrooms | $297.4K | $4.5M | +1412.9% |
Median Sold Price Compared To Nearby Zip Codes
| 56461 | $249K | $272K | +9.2% |
| 56470 | $230K | $249.9K | +8.7% |
How many homes are available in 56461, MN?
Number of Homes For Sale
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 10 | 8 | -20.0% |
Homes For Sale By Bedroom Count
| # BEDS | Jan 2023 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Number of Homes Sold
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56461, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Average Sale Time
| Feb 2022 | Feb 2023 | % |
|---|---|---|
| 64 Days | 5 Days | -92.2% |
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
Key Takeaway
Many homes in 56461 are selling fast, if you're buying plan to act quickly.
