Is 56572, 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, 56572 has remained a Buyer's Market.
Key Takeaway
56572 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56572, MN
How much do homes in 56572, MN cost?
Median Sold Price
$420,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56572 have sold for 36.1% more than they did a year ago.
Summary: The median home sold price in 56572 was $420,000 in April 2024, up 36.1% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $128.5K | -54.1% |
| 2 Bedrooms | $226K | $295K | +30.5% |
| 3 Bedrooms | $449.5K | $439K | -2.3% |
| 4 Bedrooms | $361.5K | $450K | +24.5% |
| 5+ Bedrooms | $1.3M | $274K | -79.9% |
Summary: 56572 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.1%, 2 bedroom homes increased by 30.5%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes decreased by 79.9%.
Housing Supply in 56572, MN
How many homes are available in 56572, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 41 | +20.6% |
Summary: The 56572 real estate market had 41 homes for sale in April 2024, a 20.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 15 | +87.5% |
| 3 Bedrooms | 16 | 14 | -12.5% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 56572 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 87.5%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56572, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56572 in April 2024, down by 37.5% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 56572, MN
How long does it take to sell a home in 56572, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 94 Days | 54 Days | -42.6% |
Summary: Homes in 56572 had an average of 54 days on market in Apr 2024, down by 42.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56572 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 56572; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
