Is 56537, 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, 56537 has remained a Seller's Market.
Key Takeaway
56537 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56537, MN
How much do homes in 56537, MN cost?
Median Sold Price
$219,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56537 have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in 56537 was $219,000 in April 2024, up 12.3% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.5K | $93.2K | +96.3% |
| 2 Bedrooms | $154.5K | $170K | +10.0% |
| 3 Bedrooms | $180K | $210K | +16.7% |
| 4 Bedrooms | $260K | $251K | -3.5% |
| 5+ Bedrooms | $287.5K | $285K | -0.9% |
Summary: 56537 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 96.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 56537, MN
How many homes are available in 56537, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 68 | 79 | +16.2% |
Summary: The 56537 real estate market had 79 homes for sale in April 2024, a 16.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 24 | +14.3% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The 56537 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 increased by 14.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56537, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 56537 in April 2024, up by 26.7% month-over-month. Of the 19 sold homes, 42% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for 56537, MN
How long does it take to sell a home in 56537, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 54 Days | +68.2% |
Summary: Homes in 56537 had an average of 54 days on market in Apr 2024, up by 68.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56537 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in 56537; 63% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
