Is 56649, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 56649 was a Seller's Market.
Key Takeaway
56649 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56649, MN
How much do homes in 56649, MN cost?
Median Sold Price
$950,000
$234/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 56649 have sold for 392.2% more than they did a month ago.
Summary: The median home sold price in 56649 was $950,000 in April 2024, up 392.2% from last month, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $133.8K | - | N/A |
| 2 Bedrooms | $193K | - | N/A |
| 3 Bedrooms | $292.5K | $950K | +224.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56649 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 224.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56649 | $193K | $950K | +392.2% |
| 56669 | $836.5K | $317.5K | -62.0% |
Housing Supply in 56649, MN
How many homes are available in 56649, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Summary: The 56649 real estate market had 19 homes for sale in April 2024, a 5.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56649 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56649, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56649 in April 2024, down by 85.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56649, MN
How long does it take to sell a home in 56649, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 110 Days | 48 Days | -56.6% |
Summary: Homes in 56649 had an average of 48 days on market in Apr 2024, down by 56.6% compared to 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
Key Takeaway
Avg time on Rocket Homes in 56649 has remained consistent over time.
Summary: During April 2024, 1 homes were sold in 56649; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
