$3,680 Closing Credit*
$309,900
1,520 SqFt
3 Beds
•1 Full Bath
Listing Office: Miller Real Estate
Is 56048, 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, 56048 has remained a Seller's Market.
Key Takeaway
56048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56048, MN
How much do homes in 56048, MN cost?
Median Sold Price
$265,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+6.0%)
Key Takeaway
Homes in 56048 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 56048 was $265,000 in November 2024, up 6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $260K | $190K | -26.9% |
| 3 Bedrooms | $249K | $265.9K | +6.8% |
| 4 Bedrooms | $189K | $282K | +49.2% |
| 5+ Bedrooms | $260K | $269K | +3.5% |
Summary: 56048 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 decreased by 26.9%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 49.2%, and 5+ bedroom homes increased by 3.5%.
Housing Supply in 56048, MN
How many homes are available in 56048, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Summary: The 56048 real estate market had 10 homes for sale in November 2024, a 11.1% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56048 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 remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56048, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 56048 in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56048, MN
How long does it take to sell a home in 56048, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 154 Days | 4 Days | -97.1% |
Summary: Homes in 56048 had an average of 4 days on market in Nov 2024, down by 97.1% compared to last year.
Breakdown of Home Sale Times
2 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 56048 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in 56048; 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.
