Is 56514, 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, 56514 has remained a Buyer's Market.
Housing Prices in 56514, MN
How much do homes in 56514, MN cost?
Median Sold Price
$256,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56514 was $256,000 in March 2024, down 3.8% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $172K | $180.8K | +5.1% |
3 Bedrooms | $198.5K | $224.9K | +13.3% |
4 Bedrooms | $300K | $320K | +6.7% |
5+ Bedrooms | $349.9K | $375K | +7.2% |
Summary: 56514 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 increased by 5.1%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Zip Codes
56572 | $305.7K | $420K | +37.4% |
56514 | $266K | $256K | -3.8% |
Housing Supply in 56514, MN
How many homes are available in 56514, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Summary: The 56514 real estate market had 14 homes for sale in March 2024, a 6.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 7 | 6 | -14.3% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 56514 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 decreased by 14.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in 56514 in March 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56514, MN
How long does it take to sell a home in 56514, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 138 Days | +181.6% |
Summary: Homes in 56514 had an average of 138 days on market in Mar 2024, up by 181.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in 56514; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.