$5,699 Closing Credit*
$479,900
2,826 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Dwell Realty Group LLC
Is 56003, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 56003 was a Buyer's Market.
Key Takeaway
56003 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56003, MN
How much do homes in 56003, MN cost?
Median Sold Price
$322,500
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,600(+6.5%)
Key Takeaway
Homes in 56003 have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in 56003 was $322,500 in October 2024, up 6.5% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235.8K | $319K | +35.3% |
| 3 Bedrooms | $239K | $332.5K | +39.1% |
| 4 Bedrooms | $350K | $322K | -8.0% |
| 5+ Bedrooms | $439.9K | $465K | +5.7% |
Summary: 56003 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 39.1%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Zip Codes
| 56082 | $233.7K | $284.4K | +21.7% |
| 56001 | $284K | $305K | +7.4% |
| 56003 | $302.9K | $322.5K | +6.5% |
Housing Supply in 56003, MN
How many homes are available in 56003, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 32 | +18.5% |
Summary: The 56003 real estate market had 32 homes for sale in October 2024, a 18.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 56003 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56003, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 56003 in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for 56003, MN
How long does it take to sell a home in 56003, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 26 Days | +153.1% |
Summary: Homes in 56003 had an average of 26 days on market in Oct 2024, up by 153.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56003 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in 56003; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
