Is 56586, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56586 is a neutral's market

Buyer's
Market

Difference Since December 2020

At the same time last year, 56586 was a Seller's Market.

Key Takeaway

56586 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in 56586, MN cost?

Median Sold Price

$180,000

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

-$66,200(-26.9%)

Key Takeaway

Homes in 56586 have sold for 26.9% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $112.2K-
N/A
2 $282.9K$135K
-52.3%
3 $211K$170K
-19.4%
4 $510K$255K
-50.0%
5+ $267.4K$187.5K
-29.9%

Median Sold Price Compared To Nearby Zip Codes

56515
+37.6%
56537
+6.1%
56586
-26.9%

How many homes are available in 56586, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
660.0%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 11
0.0%
3 33
0.0%
4 22
0.0%
5+ 00
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56586, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56586 has remained consistent over time.

About 56586, MN

56586, MN has 6 homes on the market. While the average time on the market in December 2021 was 50 days, the median list price was $180,000. This housing market listing prices have changed between November 2021 and December 2021: 1 bedroom properties became 0% more expensive, prices of 2 bedrooms properties went down by 52.3%, 3 bedrooms properties became 19.4% more cheaper, the cost of 4 bedrooms properties went down by 50%, prices of 5 bedrooms properties decreased by 29.9%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes remained the same, 2 bedrooms homes did not move, the quantity of 3 bedrooms homes have not changed, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes remained the same. In December 2021, from all listings sold in 56586, MN there were more than 0 sold above asking price, over 0 sold below and more than 1 were sold right at the asked price.