$1,994 Closing Credit*
$167,900
1,632 SqFt
3 Beds
•1 Full Bath
Listing Office: EXIT Realty - Great Plains
Is 56159, 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, 56159 has remained a Seller's Market.
Key Takeaway
56159 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56159, MN
How much do homes in 56159, MN cost?
Median Sold Price
$167,500
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$25,500(-13.2%)
Key Takeaway
Homes in 56159 have sold for 13.2% less than they did a year ago.
Summary: The median home sold price in 56159 was $167,500 in November 2024, down 13.2% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $70K | N/A |
| 3 Bedrooms | $145K | $180K | +24.1% |
| 4 Bedrooms | $200K | $164K | -18.0% |
| 5+ Bedrooms | $205K | $169.9K | -17.1% |
Summary: 56159 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 did not change, 3 bedroom homes increased by 24.1%, 4 bedroom homes decreased by 18%, and 5+ bedroom homes decreased by 17.1%.
Housing Supply in 56159, MN
How many homes are available in 56159, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The 56159 real estate market had 14 homes for sale in November 2024, a 27.3% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56159 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 increased by 66.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 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 56159, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56159 in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 56159, MN
How long does it take to sell a home in 56159, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 57 Days | 113 Days | +98.2% |
Summary: Homes in 56159 had an average of 113 days on market in Nov 2024, up by 98.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56159 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 4 homes were sold in 56159; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
