Is 56473, 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, 56473 was a Buyer's Market.
Key Takeaway
56473 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56473, MN
How much do homes in 56473, MN cost?
Median Sold Price
$294,950
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56473 have sold for 5.2% less than they did a year ago.
Summary: The median home sold price in 56473 was $294,950 in April 2024, down 5.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $135.6K | N/A |
| 2 Bedrooms | $231.2K | $230K | -0.5% |
| 3 Bedrooms | $290K | $299.9K | +3.4% |
| 4 Bedrooms | $340K | $334.5K | -1.6% |
| 5+ Bedrooms | $500K | $568.8K | +13.8% |
Summary: 56473 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 13.8%.
Housing Supply in 56473, MN
How many homes are available in 56473, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Summary: The 56473 real estate market had 16 homes for sale in April 2024, a 45.5% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 56473 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 remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56473, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56473 in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 56473, MN
How long does it take to sell a home in 56473, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 39 Days | +1200.0% |
Summary: Homes in 56473 had an average of 39 days on market in Apr 2024, up by 1200% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56473 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 56473; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
