Is 56466, 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, 56466 has remained a Seller's Market.
Key Takeaway
56466 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56466, MN
How much do homes in 56466, MN cost?
Median Sold Price
$245,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 56466 have sold for 16.2% less than they did a year ago.
Summary: The median home sold price in 56466 was $245,000 in March 2024, down 16.2% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $138K | -18.8% |
| 2 Bedrooms | $235K | $167K | -28.9% |
| 3 Bedrooms | $308K | $320K | +3.9% |
| 4 Bedrooms | $380K | $386.2K | +1.6% |
| 5+ Bedrooms | $302.5K | $745K | +146.3% |
Summary: 56466 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.8%, 2 bedroom homes decreased by 28.9%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 146.3%.
Housing Supply in 56466, MN
How many homes are available in 56466, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Summary: The 56466 real estate market had 19 homes for sale in March 2024, a 35.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56466 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56466, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56466 in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 56466, MN
How long does it take to sell a home in 56466, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 6 Days | -85.3% |
Summary: Homes in 56466 had an average of 6 days on market in Mar 2024, down by 85.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56466 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in 56466; 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.
