Is 56571, 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, 56571 was a Buyer's Market.
Housing Prices in 56571, MN
How much do homes in 56571, MN cost?
Median Sold Price
$322,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 56571 was $322,000 in April 2024, up 14.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $173.7K | +73.8% |
2 Bedrooms | $225K | $320K | +42.2% |
3 Bedrooms | $405.9K | $323.9K | -20.2% |
4 Bedrooms | $330.6K | $435K | +31.5% |
5+ Bedrooms | - | $575K | N/A |
Summary: 56571 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.8%, 2 bedroom homes increased by 42.2%, 3 bedroom homes decreased by 20.2%, 4 bedroom homes increased by 31.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
56551 | $205K | $350K | +70.7% |
56571 | $280.9K | $322K | +14.6% |
56573 | $298.2K | $340K | +14.0% |
56567 | $205K | $195K | -4.9% |
Housing Supply in 56571, MN
How many homes are available in 56571, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 30 | +87.5% |
Summary: The 56571 real estate market had 30 homes for sale in April 2024, a 87.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 4 | 12 | +200.0% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 0 | 3 | +100.0% |
Summary: The 56571 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in 56571 in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for 56571, MN
How long does it take to sell a home in 56571, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 36 Days | +203.3% |
Summary: Homes in 56571 had an average of 36 days on market in Apr 2024, up by 203.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in 56571; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.