$2,374 Closing Credit*
$199,900
1,120 SqFt
3 Beds
•1 Full Bath
Listing Office: EXIT Realty - Great Plains
Is 56181, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56181 has remained a Seller's Market.
Key Takeaway
56181 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56181, MN
How much do homes in 56181, MN cost?
Median Sold Price
$173,500
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$58,500(+50.9%)
Key Takeaway
Homes in 56181 have sold for 50.9% more than they did a year ago.
Summary: The median home sold price in 56181 was $173,500 in October 2024, up 50.9% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $62K | $115K | +85.5% |
| 3 Bedrooms | $222.5K | $155.5K | -30.1% |
| 4 Bedrooms | $242.5K | $237.7K | -2.0% |
| 5+ Bedrooms | $65K | $177K | +172.3% |
Summary: 56181 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 85.5%, 3 bedroom homes decreased by 30.1%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 172.3%.
Median Sold Price Compared To Nearby Zip Codes
| 56181 | $115K | $173.5K | +50.9% |
| 56031 | $172.7K | $182.9K | +5.9% |
| 56176 | $154.9K | $128.9K | -16.8% |
Housing Supply in 56181, MN
How many homes are available in 56181, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The 56181 real estate market had 5 homes for sale in October 2024, a 16.7% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56181 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 decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56181, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56181 in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56181, MN
How long does it take to sell a home in 56181, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 78 Days | 101 Days | +28.7% |
Summary: Homes in 56181 had an average of 101 days on market in Oct 2024, up by 28.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 56181 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 1 homes were sold in 56181; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
