$1,069 Closing Credit*
$90,000
2,229 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Hughes Real Estate and Auction
Is 56208, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 56208 was a Seller's Market.
Key Takeaway
56208 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56208, MN
How much do homes in 56208, MN cost?
Median Sold Price
$108,750
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,750(+25.0%)
Key Takeaway
Homes in 56208 have sold for 25% more than they did a year ago.
Summary: The median home sold price in 56208 was $108,750 in October 2024, up 25% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $36K | N/A |
| 2 Bedrooms | $63.5K | $69K | +8.6% |
| 3 Bedrooms | $105K | $96K | -8.6% |
| 4 Bedrooms | $193K | $194.5K | +0.8% |
| 5+ Bedrooms | $189.9K | $132K | -30.5% |
Summary: 56208 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 8.6%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 30.5%.
Housing Supply in 56208, MN
How many homes are available in 56208, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Summary: The 56208 real estate market had 19 homes for sale in October 2024, a 35.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56208 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 increased by 100%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56208, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56208 in October 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 56208, MN
How long does it take to sell a home in 56208, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 28 Days | -31.7% |
Summary: Homes in 56208 had an average of 28 days on market in Oct 2024, down by 31.7% compared to last year.
Breakdown of Home Sale Times
2 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 56208 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56208; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
