Is 56474, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56474 is a neutral's market

Buyer's
Market

Difference Since December 2020

At the same time last year, 56474 was a Seller's Market.

Key Takeaway

56474 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in 56474, MN cost?

Median Sold Price

$190,000

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

-$3,950(-2.0%)

Key Takeaway

Homes in 56474 have sold for 2% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $198K$126K
-36.4%
2 $139.5K$149K
+6.8%
3 $200K$245K
+22.5%
4 $250K$289.5K
+15.8%
5+ $365K$465K
+27.4%

Median Sold Price Compared To Nearby Zip Codes

56442
+42.9%
56435
+28.8%
56472
+18.1%
56474
-2.0%

How many homes are available in 56474, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
2421-12.5%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 99
0.0%
3 85
-37.5%
4 44
0.0%
5+ 33
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
93-66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56474, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
43 Days63 Days+47.1%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56474 are selling fast, if you're buying plan to act quickly.

About 56474, MN

56474, MN has 21 homes for sale to choose from. The number of listings in 56474, MN decreased by 12.5% between November 2021 and December 2021. Listings spent 63 days on the market in December 2021, and had a median list price of $190,000 during the same period. Real estate listing prices changed between November 2021 and December 2021: 1 bedroom properties prices decreased by 36.4%, prices of 2 bedrooms properties increased by 6.8%, prices of 3 bedrooms properties increased by 22.5%, prices of 4 bedrooms properties increased by 15.8%, 5 bedrooms properties became 27.4% more expensive. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes have not changed, number of 3 bedrooms homes decreased by 37.5%, number of 4 bedrooms homes remained the same, 5 bedrooms homes did not move. 56474, MN housing market in December 2021 saw over 2 listings sold above listed price, more than 0 sold at listed price and over 1 sold below.