$1,591 Closing Credit*
$134,000
1,936 SqFt
3 Beds
•2 Baths
Listing Office: River's Edge Realty
Is 56101, 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, 56101 was a Seller's Market.
Key Takeaway
56101 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56101, MN
How much do homes in 56101, MN cost?
Median Sold Price
$150,000
$85/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$19,900(-11.7%)
Key Takeaway
Homes in 56101 have sold for 11.7% less than they did a year ago.
Summary: The median home sold price in 56101 was $150,000 in November 2024, down 11.7% from last year, and the median price per square foot was $85.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $96K | $74.7K | -22.1% |
| 2 Bedrooms | $136.8K | $130K | -5.0% |
| 3 Bedrooms | $161.2K | $145K | -10.1% |
| 4 Bedrooms | $240.5K | $171.2K | -28.8% |
| 5+ Bedrooms | $252K | $140K | -44.4% |
Summary: 56101 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.1%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes decreased by 28.8%, and 5+ bedroom homes decreased by 44.4%.
Median Sold Price Compared To Nearby Zip Codes
| 56101 | $169.9K | $150K | -11.7% |
| 56159 | $193K | $167.5K | -13.2% |
Housing Supply in 56101, MN
How many homes are available in 56101, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 49 | +4.3% |
Summary: The 56101 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 | 20 | 19 | -5.0% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56101 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 5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56101, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56101 in November 2024, up by 150.0% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56101, MN
How long does it take to sell a home in 56101, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 85 Days | 88 Days | +2.7% |
Summary: Homes in 56101 had an average of 88 days on market in Nov 2024, up by 2.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56101 has remained consistent over time.
Summary: During November 2024, 5 homes were sold in 56101; 0% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
