$3,266 Closing Credit*
$275,000
1,995 SqFt
3 Beds
•2 Full Baths
Listing Office: Edina Realty, Inc.
Is 56220, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 56220 was a Neutral Market.
Key Takeaway
56220 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56220, MN
How much do homes in 56220, MN cost?
Median Sold Price
$149,000
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,000(+24.2%)
Key Takeaway
Homes in 56220 have sold for 24.2% more than they did a year ago.
Summary: The median home sold price in 56220 was $149,000 in November 2024, up 24.2% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $69.2K | $145K | +109.4% |
| 3 Bedrooms | $120K | $240K | +100.0% |
| 4 Bedrooms | $120K | $135K | +12.5% |
| 5+ Bedrooms | $179K | $214K | +19.6% |
Summary: 56220 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 109.4%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in 56220, MN
How many homes are available in 56220, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Summary: The 56220 real estate market had 12 homes for sale in November 2024, a 14.3% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56220 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 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56220, 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 56220 in November 2024, down by 50.0% month-over-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 56220, MN
How long does it take to sell a home in 56220, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 49 Days | +1533.3% |
Summary: Homes in 56220 had an average of 49 days on market in Nov 2024, up by 1533.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56220 has remained consistent over time.
Summary: During November 2024, 1 homes were sold in 56220; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
