$1,425 Closing Credit*
$120,000
1,380 SqFt
2 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 56172, 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, 56172 was a Buyer's Market.
Key Takeaway
56172 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56172, MN
How much do homes in 56172, MN cost?
Median Sold Price
$162,000
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,100(+24.7%)
Key Takeaway
Homes in 56172 have sold for 24.7% more than they did a year ago.
Summary: The median home sold price in 56172 was $162,000 in November 2024, up 24.7% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $80K | -38.5% |
| 2 Bedrooms | $100K | $150K | +50.0% |
| 3 Bedrooms | $127K | $176K | +38.6% |
| 4 Bedrooms | $165K | $154K | -6.7% |
| 5+ Bedrooms | $310K | $232.5K | -25.0% |
Summary: 56172 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.5%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 38.6%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 25%.
Housing Supply in 56172, MN
How many homes are available in 56172, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 18 | -14.3% |
Summary: The 56172 real estate market had 18 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56172 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 decreased by 15.4%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56172, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56172 in November 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 56172, MN
How long does it take to sell a home in 56172, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 54 Days | 23 Days | -55.9% |
Summary: Homes in 56172 had an average of 23 days on market in Nov 2024, down by 55.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56172 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 56172; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
