$772 Closing Credit*
$65,000
1,736 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Reiner Real Estate
Is 56087, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 56087 was a Buyer's Market.
Key Takeaway
56087 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56087, MN
How much do homes in 56087, MN cost?
Median Sold Price
$124,500
$82/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$38,000(-23.4%)
Key Takeaway
Homes in 56087 have sold for 23.4% less than they did a year ago.
Summary: The median home sold price in 56087 was $124,500 in October 2024, down 23.4% from last year, and the median price per square foot was $82.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $82K | $86.5K | +5.5% |
| 3 Bedrooms | $187.5K | $134K | -28.5% |
| 4 Bedrooms | $139K | $180K | +29.5% |
| 5+ Bedrooms | $260K | $305K | +17.3% |
Summary: 56087 housing prices by bedroom type for October 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 28.5%, 4 bedroom homes increased by 29.5%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Summary: The 56087 real estate market had 12 homes for sale in October 2024, a 20.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56087 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 decreased by 33.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56087 in October 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 8 Days | 54 Days | +579.2% |
Summary: Homes in 56087 had an average of 54 days on market in Oct 2024, up by 579.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56087 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56087; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
