$2,909 Closing Credit*
$245,000
1,436 SqFt
2 Beds
•1 Full Bath
Listing Office: True Real Estate
Is 56024, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56024 has remained a Seller's Market.
Key Takeaway
56024 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56024, MN
How much do homes in 56024, MN cost?
Median Sold Price
$239,400
$226/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$110,600(-31.6%)
Key Takeaway
Homes in 56024 have sold for 31.6% less than they did a month ago.
Summary: The median home sold price in 56024 was $239,400 in November 2024, down 31.6% from last month, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $360K | - | N/A |
| 3 Bedrooms | $300K | $222.7K | -25.8% |
| 4 Bedrooms | $347.6K | - | N/A |
| 5+ Bedrooms | $380K | $390K | +2.6% |
Summary: 56024 housing prices by bedroom type for November 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 decreased by 25.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 2.6%.
Housing Supply in 56024, MN
How many homes are available in 56024, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Summary: The 56024 real estate market had 8 homes for sale in November 2024, a 33.3% decrease 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 56024 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 decreased by 40%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56024, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56024 in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 56024, MN
How long does it take to sell a home in 56024, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 Days | 15 Days | -79.6% |
Summary: Homes in 56024 had an average of 15 days on market in Nov 2024, down by 79.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56024 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 56024; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
