Is 56481, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2022
At the same time last year, 56481 was a Seller's Market.
Key Takeaway
56481 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 56481, MN cost?
Median Sold Price
$181,500
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2022
+$6,050(+3.4%)
Key Takeaway
Homes in 56481 have sold for 3.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Feb 2022 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | $46K | N/A |
| 2 Bedrooms | $124.6K | $115K | -7.8% |
| 3 Bedrooms | $148.9K | $181.5K | +21.9% |
| 4 Bedrooms | $227.4K | $335K | +47.3% |
| 5+ Bedrooms | $291.9K | $411K | +40.8% |
How many homes are available in 56481, MN?
Number of Homes For Sale
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 5 | 6 | +20.0% |
Homes For Sale By Bedroom Count
| # BEDS | Jan 2023 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Number of Homes Sold
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56481, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Average Sale Time
| Feb 2022 | Feb 2023 | % |
|---|---|---|
| 185 Days | 16 Days | -91.4% |
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56481 are selling fast, if you're buying plan to act quickly.
