$1,838 Closing Credit*
$154,777
1,824 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Jeff A. Dotseth & Assoc.Realty
Is 56087, 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, 56087 has remained a Buyer's Market.
Key Takeaway
56087 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56087, MN
How much do homes in 56087, MN cost?
Median Sold Price
$109,500
$80/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$71,750(-39.6%)
Key Takeaway
Homes in 56087 have sold for 39.6% less than they did a year ago.
Summary: The median home sold price in 56087 was $109,500 in November 2024, down 39.6% from last year, and the median price per square foot was $80.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $82K | $86.5K | +5.5% |
| 3 Bedrooms | $188.7K | $134K | -29.0% |
| 4 Bedrooms | $167.5K | $177.5K | +6.0% |
| 5+ Bedrooms | $260K | $305K | +17.3% |
Summary: 56087 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 5.5%, 3 bedroom homes decreased by 29%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 17.3%.
Housing Supply in 56087, MN
How many homes are available in 56087, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The 56087 real estate market had 10 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56087 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 decreased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56087, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56087 in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56087, MN
How long does it take to sell a home in 56087, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 17 Days | -41.4% |
Summary: Homes in 56087 had an average of 17 days on market in Nov 2024, down by 41.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56087 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in 56087; 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.
