$8,608 Closing Credit*
$724,900
2,454 SqFt
4 Beds
•2 Full Baths, 2 Partial
Listing Office: RE/MAX Experience
Is 56011, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 56011 has remained a Seller's Market.
Key Takeaway
56011 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56011, MN
How much do homes in 56011, MN cost?
Median Sold Price
$350,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,500(+5.3%)
Key Takeaway
Homes in 56011 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 56011 was $350,000 in November 2024, up 5.3% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $160K | N/A |
| 2 Bedrooms | $277.4K | $294.9K | +6.3% |
| 3 Bedrooms | $300K | $336.7K | +12.3% |
| 4 Bedrooms | $345K | $370.9K | +7.5% |
| 5+ Bedrooms | $389.9K | $384.5K | -1.4% |
Summary: 56011 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 1.4%.
Housing Supply in 56011, MN
How many homes are available in 56011, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 50 | +6.4% |
Summary: The 56011 real estate market had 50 homes for sale in November 2024, a 6.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 21 | 22 | +4.8% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 56011 housing inventory by bedroom type for November 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 4.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 11 | +266.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56011, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 56011 in November 2024, up by 266.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 23 Days | -12.6% |
Summary: Homes in 56011 had an average of 23 days on market in Nov 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 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 November 2024, 11 homes were sold in 56011; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
