Is 56529, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 56529 was a Buyer's Market.
Key Takeaway
56529 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56529, MN
How much do homes in 56529, MN cost?
Median Sold Price
$224,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56529 have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in 56529 was $224,000 in April 2024, down 4.6% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.9K | $155K | +4.8% |
| 2 Bedrooms | $125K | $144K | +15.2% |
| 3 Bedrooms | $190.5K | $217.5K | +14.2% |
| 4 Bedrooms | $305K | $291K | -4.6% |
| 5+ Bedrooms | $435K | $162K | -62.8% |
Summary: 56529 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 14.2%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 62.8%.
Median Sold Price Compared To Nearby Zip Codes
| 56560 | $244.6K | $260K | +6.3% |
| 56529 | $234.9K | $224K | -4.6% |
Housing Supply in 56529, MN
How many homes are available in 56529, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Summary: The 56529 real estate market had 22 homes for sale in April 2024, a 29.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The 56529 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56529, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56529 in April 2024, down by 20.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56529, MN
How long does it take to sell a home in 56529, MN?
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
Key Takeaway
Most homes in 56529 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in 56529; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
