Is 56470, 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, 56470 has remained a Seller's Market.
Housing Prices in 56470, MN
How much do homes in 56470, MN cost?
Median Sold Price
$290,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56470 was $290,000 in March 2024, up 11.5% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $167K | $234.4K | +40.4% |
2 Bedrooms | $245K | $209K | -14.7% |
3 Bedrooms | $234.5K | $330K | +40.7% |
4 Bedrooms | $317.5K | $342.5K | +7.9% |
5+ Bedrooms | $369K | $375K | +1.6% |
Summary: 56470 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.4%, 2 bedroom homes decreased by 14.7%, 3 bedroom homes increased by 40.7%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Zip Codes
56467 | $330K | $400K | +21.2% |
56470 | $260K | $290K | +11.5% |
56570 | $450K | $327.5K | -27.2% |
Housing Supply in 56470, MN
How many homes are available in 56470, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 64 | +28.0% |
Summary: The 56470 real estate market had 64 homes for sale in March 2024, a 28.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 11 | 14 | +27.3% |
3 Bedrooms | 23 | 31 | +34.8% |
4 Bedrooms | 10 | 12 | +20.0% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 56470 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 34.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 11 | +266.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 56470 in March 2024, up by 266.7% month-over-month. Of the 11 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.
Days on Market for 56470, MN
How long does it take to sell a home in 56470, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 61 Days | +91.8% |
Summary: Homes in 56470 had an average of 61 days on market in Mar 2024, up by 91.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 56470; 45% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.