Is 56636, 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, 56636 has remained a Seller's Market.
Key Takeaway
56636 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56636, MN
How much do homes in 56636, MN cost?
Median Sold Price
$287,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 56636 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 56636 was $287,500 in April 2024, up 8.5% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $155K | -7.5% |
| 2 Bedrooms | $239K | $170K | -28.9% |
| 3 Bedrooms | $206K | $340K | +65.0% |
| 4 Bedrooms | $319.9K | $466.5K | +45.8% |
| 5+ Bedrooms | $421K | $525K | +24.7% |
Summary: 56636 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes decreased by 28.9%, 3 bedroom homes increased by 65%, 4 bedroom homes increased by 45.8%, and 5+ bedroom homes increased by 24.7%.
Median Sold Price Compared To Nearby Zip Codes
| 56636 | $265K | $287.5K | +8.5% |
| 55721 | $296K | $290.5K | -1.9% |
Housing Supply in 56636, MN
How many homes are available in 56636, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The 56636 real estate market had 13 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 | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56636 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 decreased by 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 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 56636, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56636 in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 56636, MN
How long does it take to sell a home in 56636, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 74 Days | +398.3% |
Summary: Homes in 56636 had an average of 74 days on market in Apr 2024, up by 398.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56636 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in 56636; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
