Is 56468, 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, 56468 was a Seller's Market.
Key Takeaway
56468 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56468, MN
How much do homes in 56468, MN cost?
Median Sold Price
$582,000
$286/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56468 have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in 56468 was $582,000 in April 2024, down 2.3% from last year, and the median price per square foot was $286.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251.7K | $422K | +67.7% |
| 2 Bedrooms | $301.9K | $380K | +25.9% |
| 3 Bedrooms | $529K | $520K | -1.7% |
| 4 Bedrooms | $791.7K | $728.2K | -8.0% |
| 5+ Bedrooms | $1.1M | $1.3M | +18.6% |
Summary: 56468 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67.7%, 2 bedroom homes increased by 25.9%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 18.6%.
Housing Supply in 56468, MN
How many homes are available in 56468, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 55 | +27.9% |
Summary: The 56468 real estate market had 55 homes for sale in April 2024, a 27.9% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 20 | 25 | +25.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The 56468 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 25%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56468, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56468 in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for 56468, MN
How long does it take to sell a home in 56468, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 74 Days | +144.4% |
Summary: Homes in 56468 had an average of 74 days on market in Apr 2024, up by 144.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56468 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 56468; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
