$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
Last month, 56024 was a Buyer'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
$350,000
$168/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$186,900(+114.6%)
Key Takeaway
Homes in 56024 have sold for 114.6% more than they did a month ago.
Summary: The median home sold price in 56024 was $350,000 in October 2024, up 114.6% from last month, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $360K | N/A |
| 3 Bedrooms | $163.1K | $300K | +83.9% |
| 4 Bedrooms | - | $347.6K | N/A |
| 5+ Bedrooms | - | $380K | N/A |
Summary: 56024 housing prices by bedroom type for October 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 increased by 83.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56024, MN
How many homes are available in 56024, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Summary: The 56024 real estate market had 12 homes for sale in October 2024, a 20.0% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 56024 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56024, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 56024 in October 2024, up by 400.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 60% were sold at asking, and 40% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 75 Days | +56.7% |
Summary: Homes in 56024 had an average of 75 days on market in Oct 2024, up by 56.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 October 2024, 5 homes were sold in 56024; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
