Listing Office: Hughes Real Estate and Auction
Is 56215, 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, 56215 was a Seller's Market.
Key Takeaway
56215 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56215, MN
How much do homes in 56215, MN cost?
Median Sold Price
$160,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$7,950(-4.7%)
Key Takeaway
Homes in 56215 have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in 56215 was $160,000 in October 2024, down 4.7% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $62.2K | - | N/A |
| 2 Bedrooms | $152.5K | $130K | -14.8% |
| 3 Bedrooms | $133.5K | $145K | +8.6% |
| 4 Bedrooms | $191K | $215K | +12.6% |
| 5+ Bedrooms | $279K | $216.9K | -22.2% |
Summary: 56215 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 decreased by 14.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 22.2%.
Housing Supply in 56215, MN
How many homes are available in 56215, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 25 | 0.0% |
Summary: The 56215 real estate market had 25 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 56215 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 25%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56215, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56215 in October 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 56215, MN
How long does it take to sell a home in 56215, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 56 Days | 60 Days | +7.9% |
Summary: Homes in 56215 had an average of 60 days on market in Oct 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56215 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56215; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
