March 2024

56589 Housing Market Report Little Elbow Township, Becker County, Minnesota

Report Updated 28 Days Ago

Housing Prices in 56589, MN

How much do homes in 56589, MN cost?

Median List Price

$307,000

$206/sqft

Based on all homes listed in the last 12 months.

Difference Since March 2023

+$8,000(+2.7%)

Key Takeaway

The list price of homes in 56589 has increased by 2.7% since last year.

Summary: The median home list price in 56589 was $307,000 in March 2024, up 2.7% from the previous year, and the median price per square foot was $206.

Median List Price By Bedroom Count

# BEDS# BEDROOMS	Mar 2023	Mar 2024	CHANGE
1 Bedroom	$93K	$81.5K	-12.4%
2 Bedrooms	$229K	$236.2K	+3.2%
3 Bedrooms	$425K	$152.4K	-64.1%
4 Bedrooms	-	$397.4K	N/A
5+ Bedrooms	-	$937K	N/A

Summary: 56589 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.4%, 2 bedroom homes increased by 3.2%, 3 bedroom homes decreased by 64.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median List Price Compared To Nearby Zip Codes

ZIP	Mar 2023	Mar 2024	CHANGE
56569	$232.4K	$252K	+8.4%
56589	$299K	$307K	+2.7%
56557	$130K	$102.4K	-21.2%
56575	$795K	$375K	-52.8%

Housing Supply in 56589, MN

How many homes are available in 56589, MN?

Number of Homes For Sale

Feb 2024	Mar 2024	CHANGE
4	7	+75.0%

Summary: The 56589 real estate market had 7 homes for sale in March 2024, a 75.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDS# BEDROOMS	Feb 2024	Mar 2024	CHANGE
1 Bedroom	1	1	0.0%
2 Bedrooms	1	1	0.0%
3 Bedrooms	1	1	0.0%
4 Bedrooms	1	1	0.0%
5+ Bedrooms	0	3	+100.0%

Summary: The 56589 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Days on Market for 56589, MN

How long does it take to sell a home in 56589, MN?

Average Listing Age

Mar 2023	Mar 2024	CHANGE
283 Days	165 Days	-41.4%

Summary: Homes in 56589 had an average listing age of 165 days in Mar 2024, down by 41.4% compared to the previous year.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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Newest Listings in 56589, MN

Nearby Markets to 56589, MN

MLS Disclaimers and Copyright

Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc. for the period 04/01/2022 - 04/01/2024

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Last updated on: 4/29/2024, 11:22:16 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.