$1,366 Closing Credit*
$115,000
1,800 SqFt
2 Beds
•2 Full Baths
Listing Office: Edina Realty, Inc.
Is 56222, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56222 has remained a Seller's Market.
Key Takeaway
56222 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56222, MN
How much do homes in 56222, MN cost?
Median Sold Price
$174,750
$71/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,750(+12.7%)
Key Takeaway
Homes in 56222 have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in 56222 was $174,750 in October 2024, up 12.7% from last year, and the median price per square foot was $71.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97K | - | N/A |
| 2 Bedrooms | $83.8K | - | N/A |
| 3 Bedrooms | $170K | $172K | +1.2% |
| 4 Bedrooms | $168.8K | $172.5K | +2.2% |
| 5+ Bedrooms | - | $177.5K | N/A |
Summary: 56222 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 did not change, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56252 | $146.4K | $203.5K | +39.0% |
| 56222 | $155K | $174.7K | +12.7% |
Housing Supply in 56222, MN
How many homes are available in 56222, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Summary: The 56222 real estate market had 9 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 56222 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56222, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 56222 in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56222, MN
How long does it take to sell a home in 56222, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 195 Days | +475.0% |
Summary: Homes in 56222 had an average of 195 days on market in Oct 2024, up by 475% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56222 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 56222; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
