Is 56531, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56531 is a seller's market

Buyer's
Market

Difference Since December 2020

At the same time last year, 56531 was a Buyer's Market.

Key Takeaway

56531 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 56531, MN cost?

Median Sold Price

$120,000

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

-$3,375(-2.7%)

Key Takeaway

Homes in 56531 have sold for 2.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 -$39.9K
N/A
2 $182.5K$169K
-7.4%
3 $118.7K$99.9K
-15.9%
4 $123.7K$120K
-3.0%
5+ $200K$125.5K
-37.3%

How many homes are available in 56531, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
109-10.0%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 54
-20.0%
3 00
0.0%
4 55
0.0%
5+ 00
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56531, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
17 Days16 Days-5.9%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56531 are selling fast, if you're buying plan to act quickly.

About 56531, MN

56531, MN has 9 homes for sale to choose from. Between November 2021 and December 2021, 56531, MN real estate market has seen decrease in the number of listings by 10%. Listings spent 16 days on the market in December 2021, and had a median list price of $120,000 during the same period. This housing market listing prices have changed between November 2021 and December 2021: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties decreased by 7.4%, prices of 3 bedrooms properties went down by 15.9%, 4 bedrooms properties became 3% more cheaper, prices of 5 bedrooms properties went down by 37.3%. This housing market inventory have changed: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes went down by 20%, volume of 3 bedrooms homes stayed the same, 4 bedrooms homes inventory did not change, number of 5 bedrooms homes remained the same. While more than 1 listings in 56531, MN in December 2021 were sold above asking price, there were more than 0 listings sold at asking price, and more than 1 were sold below.