$3,384 Closing Credit*
$285,000
2,032 SqFt
4 Beds
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is 56201, 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, 56201 has remained a Seller's Market.
Key Takeaway
56201 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56201, MN
How much do homes in 56201, MN cost?
Median Sold Price
$235,000
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+9.3%)
Key Takeaway
Homes in 56201 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 56201 was $235,000 in November 2024, up 9.3% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102K | $81.9K | -19.7% |
| 2 Bedrooms | $160K | $210K | +31.3% |
| 3 Bedrooms | $215K | $200K | -7.0% |
| 4 Bedrooms | $256K | $310K | +21.1% |
| 5+ Bedrooms | $267.5K | $400K | +49.5% |
Summary: 56201 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.7%, 2 bedroom homes increased by 31.3%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 49.5%.
Median Sold Price Compared To Nearby Zip Codes
| 56288 | $393.4K | $456.5K | +16.0% |
| 56201 | $215K | $235K | +9.3% |
Housing Supply in 56201, MN
How many homes are available in 56201, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 86 | 80 | -7.0% |
Summary: The 56201 real estate market had 80 homes for sale in November 2024, a 7.0% 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 | 13 | 10 | -23.1% |
| 3 Bedrooms | 31 | 26 | -16.1% |
| 4 Bedrooms | 28 | 28 | 0.0% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The 56201 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 23.1%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56201, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 56201 in November 2024, the same as the previous month. Of the 17 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for 56201, MN
How long does it take to sell a home in 56201, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 36 Days | +18.3% |
Summary: Homes in 56201 had an average of 36 days on market in Nov 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56201 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 56201; 53% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
