$9,143 Closing Credit*
$769,900
2,237 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Kubes Realty Inc
Is 56071, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 56071 was a Seller's Market.
Key Takeaway
56071 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56071, MN
How much do homes in 56071, MN cost?
Median Sold Price
$376,500
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,500(+3.2%)
Key Takeaway
Homes in 56071 have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in 56071 was $376,500 in November 2024, up 3.2% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247K | - | N/A |
| 2 Bedrooms | $242.5K | $289K | +19.2% |
| 3 Bedrooms | $320K | $350K | +9.4% |
| 4 Bedrooms | $410K | $366.1K | -10.7% |
| 5+ Bedrooms | $480K | $505K | +5.2% |
Summary: 56071 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 19.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes increased by 5.2%.
Housing Supply in 56071, MN
How many homes are available in 56071, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 49 | +4.3% |
Summary: The 56071 real estate market had 49 homes for sale in November 2024, a 4.3% 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 | 7 | 8 | +14.3% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 23 | 23 | 0.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 56071 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 increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 5 | -54.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56071, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56071 in November 2024, down by 54.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 56071, MN
How long does it take to sell a home in 56071, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 10 Days | -39.1% |
Summary: Homes in 56071 had an average of 10 days on market in Nov 2024, down by 39.1% compared to last year.
Breakdown of Home Sale Times
5 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 56071 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 56071; 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.
