$1,989 Closing Credit*
$167,500
936 SqFt
2 Beds
•1 Full Bath
Listing Office: Real Estate Retrievers-Luverne
Is 56164, 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, 56164 has remained a Seller's Market.
Key Takeaway
56164 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56164, MN
How much do homes in 56164, MN cost?
Median Sold Price
$174,000
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,000(+6.7%)
Key Takeaway
Homes in 56164 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 56164 was $174,000 in November 2024, up 6.7% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $40.5K | - | N/A |
| 2 Bedrooms | $130K | $79.5K | -38.8% |
| 3 Bedrooms | $148.7K | $160K | +7.6% |
| 4 Bedrooms | $187.4K | $245K | +30.7% |
| 5+ Bedrooms | $265K | $327.7K | +23.7% |
Summary: 56164 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 decreased by 38.8%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 30.7%, and 5+ bedroom homes increased by 23.7%.
Housing Supply in 56164, MN
How many homes are available in 56164, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Summary: The 56164 real estate market had 35 homes for sale in November 2024, a 2.8% decrease 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56164 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 28.6%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56164, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56164 in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 63 Days | +49.9% |
Summary: Homes in 56164 had an average of 63 days on market in Nov 2024, up by 49.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56164 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in 56164; 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.
