Is 56484, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56484 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 56484 has remained a Seller's Market.

Key Takeaway

56484 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56484, MN cost?

Median Sold Price

$297,500

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$28,500(+10.6%)

Key Takeaway

Homes in 56484 have sold for 10.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $147.5K$247.4K
+67.8%
2 $189.2K$229.9K
+21.5%
3 $265K$255.5K
-3.6%
4 $325K$474.9K
+46.1%
5+ $565K$560K
-0.9%

Median Sold Price Compared To Nearby Zip Codes

56433
+51.4%
56655
+14.0%
56484
+10.6%
56452
-5.5%

How many homes are available in 56484, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
2219-13.6%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 11
0.0%
2 64
-33.3%
3 86
-25.0%
4 66
0.0%
5+ 12
+100.0%

Number of Homes Sold

Nov 2021Dec 2021%
440.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56484, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
71 Days15 Days-78.9%

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56484 are selling fast, if you're buying plan to act quickly.

About 56484, MN

Number of homes for sale in 56484, MN real estate market have reached 19. The number of homes for sale in 56484, MN decreased by 13.6% between November 2021 and December 2021. While the average time on the market in December 2021 was 15 days, the median list price was $297,500. Listing prices have changed in this real estate market between November 2021 and December 2021: the cost of 1 bedroom properties went up by 67.8%, prices of 2 bedrooms properties went up by 21.5%, 3 bedrooms properties became 3.6% more cheaper, 4 bedrooms properties became 46.1% more expensive, prices of 5 bedrooms properties went down by 0.9%. This housing market inventory have changed: 1 bedroom homes did not move, the quantity of 2 bedrooms homes went down by 33.3%, number of 3 bedrooms homes decreased by 25%, 4 bedrooms homes inventory did not change, volume of 5 bedrooms homes went up by 100%. While more than 2 listings in 56484, MN in December 2021 were sold above asking price, there were more than 1 listings sold at asking price, and more than 1 were sold below.