$2,528 Closing Credit*
$212,900
1,217 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Exit Northstar Realty
Is 56011, 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, 56011 was a Seller's Market.
Key Takeaway
56011 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56011, MN
How much do homes in 56011, MN cost?
Median Sold Price
$358,975
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,975(+7.2%)
Key Takeaway
Homes in 56011 have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in 56011 was $358,975 in October 2024, up 7.2% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $160K | N/A |
| 2 Bedrooms | $274.9K | $301K | +9.5% |
| 3 Bedrooms | $310K | $336.7K | +8.6% |
| 4 Bedrooms | $345K | $372K | +7.8% |
| 5+ Bedrooms | $424.9K | $380K | -10.6% |
Summary: 56011 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 9.5%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 10.6%.
Housing Supply in 56011, MN
How many homes are available in 56011, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 49 | +11.4% |
Summary: The 56011 real estate market had 49 homes for sale in October 2024, a 11.4% 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 | 4 | 8 | +100.0% |
| 3 Bedrooms | 21 | 20 | -4.8% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 56011 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 increased by 100%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 3 | -72.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56011, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56011 in October 2024, down by 72.7% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56011, MN
How long does it take to sell a home in 56011, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 73 Days | 8 Days | -89.1% |
Summary: Homes in 56011 had an average of 8 days on market in Oct 2024, down by 89.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56011 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56011; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
