Is 56479, 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, 56479 has remained a Seller's Market.
Key Takeaway
56479 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56479, MN
How much do homes in 56479, MN cost?
Median Sold Price
$168,950
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 56479 have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in 56479 was $168,950 in March 2024, down 0.6% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $89.5K | N/A |
| 2 Bedrooms | $149.9K | $130K | -13.3% |
| 3 Bedrooms | $148.6K | $187.4K | +26.1% |
| 4 Bedrooms | $255K | $230K | -9.8% |
| 5+ Bedrooms | $324.9K | $268.5K | -17.4% |
Summary: 56479 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 decreased by 13.3%, 3 bedroom homes increased by 26.1%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 17.4%.
Median Sold Price Compared To Nearby Zip Codes
| 56479 | $170K | $168.9K | -0.6% |
| 56466 | $292.4K | $245K | -16.2% |
Housing Supply in 56479, MN
How many homes are available in 56479, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 24 | +26.3% |
Summary: The 56479 real estate market had 24 homes for sale in March 2024, a 26.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 5 | 9 | +80.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56479 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 9 | +800.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56479, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56479 in March 2024, up by 800.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for 56479, MN
How long does it take to sell a home in 56479, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 89 Days | 97 Days | +8.2% |
Summary: Homes in 56479 had an average of 97 days on market in Mar 2024, up by 8.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56479 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 9 homes were sold in 56479; 22% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.
