$1,899 Closing Credit*
$159,900
704 SqFt
2 Beds
•1 Full Bath
Listing Office: Re/Max Premier Realty
Is 56187, 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, 56187 has remained a Seller's Market.
Key Takeaway
56187 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56187, MN
How much do homes in 56187, MN cost?
Median Sold Price
$261,000
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,000(+19.2%)
Key Takeaway
Homes in 56187 have sold for 19.2% more than they did a year ago.
Summary: The median home sold price in 56187 was $261,000 in November 2024, up 19.2% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112K | $134K | +19.6% |
| 2 Bedrooms | $173.9K | $205K | +17.8% |
| 3 Bedrooms | $219K | $255K | +16.4% |
| 4 Bedrooms | $290K | $309K | +6.6% |
| 5+ Bedrooms | $375K | $254.5K | -32.1% |
Summary: 56187 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 32.1%.
Housing Supply in 56187, MN
How many homes are available in 56187, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 50 | -16.7% |
Summary: The 56187 real estate market had 50 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 26 | 22 | -15.4% |
| 4 Bedrooms | 16 | 12 | -25.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56187 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
7 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 56187, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56187 in November 2024, down by 30.8% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for 56187, MN
How long does it take to sell a home in 56187, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 35 Days | -3.2% |
Summary: Homes in 56187 had an average of 35 days on market in Nov 2024, down by 3.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56187 has remained consistent over time.
Summary: During November 2024, 9 homes were sold in 56187; 44% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
