Is 56183, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56183 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 56183 was a Neutral Market.

Key Takeaway

56183 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 56183, MN

How much do homes in 56183, MN cost?

Median Sold Price

$49,500

$51/sqft

Based on all homes sold in December 2024.

Difference Since Last Month

+$19,500(+65.0%)

Key Takeaway

Homes in 56183 have sold for 65% more than they did a month ago.

Summary: The median home sold price in 56183 was $49,500 in December 2024, up 65% from last month, and the median price per square foot was $51.

Median Sold Price By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 --
N/A
2 $30K$49.5K
+65.0%
3 --
N/A
4 --
N/A
5+ --
N/A

Summary: 56183 housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 65%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 56183, MN

How many homes are available in 56183, MN?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
79+28.6%

Summary: The 56183 real estate market had 9 homes for sale in December 2024, a 28.6% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 02
+100.0%
2 21
-50.0%
3 22
0.0%
4 33
0.0%
5+ 01
+100.0%

Summary: The 56183 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56183, 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 56183 in December 2024, the same as the previous 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 56183, MN

How long does it take to sell a home in 56183, MN?

Average Sale Time

Nov 2024Dec 2024CHANGE
71 Days7 Days-90.1%

Summary: Homes in 56183 had an average of 7 days on market in Dec 2024, down by 90.1% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56183 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 1 homes were sold in 56183; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 7 Days Ago

Newest Listings in 56183, MN

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