Is 56633, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56633 has remained a Seller's Market.
Key Takeaway
56633 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56633, MN
How much do homes in 56633, MN cost?
Median Sold Price
$227,000
$327/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 56633 have sold for 158% more than they did a month ago.
Summary: The median home sold price in 56633 was $227,000 in April 2024, up 158% from last month, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.9K | $227K | +255.1% |
| 2 Bedrooms | $75K | - | N/A |
| 3 Bedrooms | $289K | $520K | +79.9% |
| 4 Bedrooms | $88K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56633 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes increased by 255.1%, 2 bedroom homes did not change, 3 bedroom homes increased by 79.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56633, MN
How many homes are available in 56633, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The 56633 real estate market had 17 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56633 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56633, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56633 in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 56633, MN
How long does it take to sell a home in 56633, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 83 Days | 41 Days | -50.3% |
Summary: Homes in 56633 had an average of 41 days on market in Apr 2024, down by 50.3% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56633 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 56633; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
