$1,507 Closing Credit*
$126,900
1,022 SqFt
3 Beds
•2 Baths
Listing Office: Keller Williams Realty-SF
Is 56164, 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, 56164 was a Seller's Market.
Key Takeaway
56164 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56164, MN
How much do homes in 56164, MN cost?
Median Sold Price
$175,000
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+9.4%)
Key Takeaway
Homes in 56164 have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in 56164 was $175,000 in October 2024, up 9.4% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $40.5K | $60.2K | +48.8% |
| 2 Bedrooms | $103.6K | $128K | +23.6% |
| 3 Bedrooms | $141.2K | $169K | +19.6% |
| 4 Bedrooms | $189.9K | $221K | +16.4% |
| 5+ Bedrooms | $254K | $338.7K | +33.3% |
Summary: 56164 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.8%, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 33.3%.
Housing Supply in 56164, MN
How many homes are available in 56164, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 38 | +31.0% |
Summary: The 56164 real estate market had 38 homes for sale in October 2024, a 31.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 9 | 14 | +55.6% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56164 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 remained the same, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56164, 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 56164 in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 56164, MN
How long does it take to sell a home in 56164, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 95 Days | +55.7% |
Summary: Homes in 56164 had an average of 95 days on market in Oct 2024, up by 55.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56164 has remained consistent over time.
Summary: During October 2024, 4 homes were sold in 56164; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
