Is 56544, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56544 has remained a Seller's Market.
Key Takeaway
56544 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56544, MN
How much do homes in 56544, MN cost?
Median Sold Price
$344,000
$164/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 56544 have sold for 4.4% less than they did a month ago.
Summary: The median home sold price in 56544 was $344,000 in March 2024, down 4.4% from last month, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $410K | N/A |
| 3 Bedrooms | $395.8K | $202K | -49.0% |
| 4 Bedrooms | $35K | $470K | +1239.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: 56544 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 49%, 4 bedroom homes increased by 1239.5%, and 5+ bedroom homes did not change.
Housing Supply in 56544, MN
How many homes are available in 56544, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 28 | +7.7% |
Summary: The 56544 real estate market had 28 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 11 | 7 | -36.4% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 56544 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 36.4%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56544, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 56544 in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for 56544, MN
How long does it take to sell a home in 56544, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 98 Days | 82 Days | -16.7% |
Summary: Homes in 56544 had an average of 82 days on market in Mar 2024, down by 16.7% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56544 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 56544; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
