Is 56554, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 56554 has remained a Buyer's Market.
Housing Prices in 56554, MN
How much do homes in 56554, MN cost?
Median Sold Price
$276,900
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 56554 was $276,900 in March 2024, down 30.6% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $280K | $223.5K | -20.2% |
3 Bedrooms | $374K | $280.5K | -25.0% |
4 Bedrooms | $460K | $270.7K | -41.1% |
5+ Bedrooms | $739.9K | $457K | -38.2% |
Summary: 56554 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.2%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 41.1%, and 5+ bedroom homes decreased by 38.2%.
Median Sold Price Compared To Nearby Zip Codes
56511 | $545K | $428.2K | -21.4% |
56554 | $399K | $276.9K | -30.6% |
Housing Supply in 56554, MN
How many homes are available in 56554, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 17 | 0.0% |
Summary: The 56554 real estate market had 17 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 56554 housing inventory by bedroom type for March 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 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in 56554 in March 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56554, MN
How long does it take to sell a home in 56554, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
96 Days | 28 Days | -70.8% |
Summary: Homes in 56554 had an average of 28 days on market in Mar 2024, down by 70.8% compared to last year.
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
Summary: During March 2024, 2 homes were sold in 56554; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.