Is 56472, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 56472 was a Seller's Market.
Housing Prices in 56472, MN
How much do homes in 56472, MN cost?
Median Sold Price
$409,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56472 was $409,000 in March 2024, up 1.3% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $235K | 0.0% |
2 Bedrooms | $260K | $307.5K | +18.3% |
3 Bedrooms | $441.5K | $395K | -10.5% |
4 Bedrooms | $448K | $457.5K | +2.1% |
5+ Bedrooms | $560K | $615K | +9.8% |
Summary: 56472 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.3%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 9.8%.
Housing Supply in 56472, MN
How many homes are available in 56472, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
65 | 74 | +13.8% |
Summary: The 56472 real estate market had 74 homes for sale in March 2024, a 13.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 6 | 10 | +66.7% |
3 Bedrooms | 27 | 30 | +11.1% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 56472 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 56472 in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.
Days on Market for 56472, MN
How long does it take to sell a home in 56472, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
112 Days | 56 Days | -49.8% |
Summary: Homes in 56472 had an average of 56 days on market in Mar 2024, down by 49.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in 56472; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.