Is 56474, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 56474 has remained a Seller's Market.
Key Takeaway
56474 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56474, MN
How much do homes in 56474, MN cost?
Median Sold Price
$279,900
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56474 have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in 56474 was $279,900 in April 2024, up 0.9% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175.8K | $148K | -15.8% |
| 2 Bedrooms | $222K | $175K | -21.2% |
| 3 Bedrooms | $274.9K | $294.5K | +7.1% |
| 4 Bedrooms | $412K | $329K | -20.1% |
| 5+ Bedrooms | $1.3M | $1.6M | +18.2% |
Summary: 56474 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.8%, 2 bedroom homes decreased by 21.2%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 20.1%, and 5+ bedroom homes increased by 18.2%.
Housing Supply in 56474, MN
How many homes are available in 56474, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The 56474 real estate market had 23 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56474 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56474, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in 56474 in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 44% were sold at asking, and 33% were sold over asking.
Days on Market for 56474, MN
How long does it take to sell a home in 56474, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 23 Days | -53.1% |
Summary: Homes in 56474 had an average of 23 days on market in Apr 2024, down by 53.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56474 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 56474; 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.
