Is 56520, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 56520 has remained a Seller's Market.
Key Takeaway
56520 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56520, MN
How much do homes in 56520, MN cost?
Median Sold Price
$150,000
$76/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56520 have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in 56520 was $150,000 in April 2024, down 8.5% from last year, and the median price per square foot was $76.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59K | $33.5K | -43.2% |
| 2 Bedrooms | $119.5K | $90K | -24.7% |
| 3 Bedrooms | $163.9K | $154K | -6.1% |
| 4 Bedrooms | $192.5K | $227K | +17.9% |
| 5+ Bedrooms | $245K | $327K | +33.5% |
Summary: 56520 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.2%, 2 bedroom homes decreased by 24.7%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 33.5%.
Median Sold Price Compared To Nearby Zip Codes
| 58075 | $195K | $215K | +10.3% |
| 56520 | $163.9K | $150K | -8.5% |
Housing Supply in 56520, MN
How many homes are available in 56520, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 24 | 0.0% |
Summary: The 56520 real estate market had 24 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56520 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 150%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56520, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56520 in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for 56520, MN
How long does it take to sell a home in 56520, MN?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56520 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 56520; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
