$1,068 Closing Credit*
$89,900
1,449 SqFt
Listing Office: eXp Realty
Is 56007, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56007 has remained a Seller's Market.
Key Takeaway
56007 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56007, MN
How much do homes in 56007, MN cost?
Median Sold Price
$162,850
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$150(-0.1%)
Key Takeaway
The sold price of homes in 56007 has remained the same since last year.
Summary: The median home sold price in 56007 was $162,850 in October 2024, down 0.1% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116K | $35K | -69.8% |
| 2 Bedrooms | $125K | $113K | -9.6% |
| 3 Bedrooms | $155K | $162.9K | +5.1% |
| 4 Bedrooms | $230K | $236K | +2.6% |
| 5+ Bedrooms | $290.5K | $282K | -2.9% |
Summary: 56007 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 69.8%, 2 bedroom homes decreased by 9.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in 56007, MN
How many homes are available in 56007, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 107 | +0.9% |
Summary: The 56007 real estate market had 107 homes for sale in October 2024, a 0.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 23 | 24 | +4.3% |
| 3 Bedrooms | 47 | 45 | -4.3% |
| 4 Bedrooms | 29 | 30 | +3.4% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 56007 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56007, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 56007 in October 2024, the same as the previous month. Of the 20 sold homes, 60% were sold under asking, 25% were sold at asking, and 15% were sold over asking.
Days on Market for 56007, MN
How long does it take to sell a home in 56007, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 30 Days | -42.4% |
Summary: Homes in 56007 had an average of 30 days on market in Oct 2024, down by 42.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56007 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 56007; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
