$831 Closing Credit*
$70,000
1,632 SqFt
4 Beds
•1 Full Bath
Listing Office: Counselor Realty Inc of Alex
Is 56248, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 56248 has remained a Seller's Market.
Key Takeaway
56248 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56248, MN
How much do homes in 56248, MN cost?
Median Sold Price
$67,500
$90/sqft
Based on all homes sold in September 2024.
Difference Since Last Month
-$179,325(-72.7%)
Key Takeaway
Homes in 56248 have sold for 72.7% less than they did a month ago.
Summary: The median home sold price in 56248 was $67,500 in September 2024, down 72.7% from last month, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $67.5K | N/A |
| 3 Bedrooms | $133.6K | - | N/A |
| 4 Bedrooms | $360K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56248 housing prices by bedroom type for September 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56235 | $417.9K | $290K | -30.6% |
| 56248 | $246.8K | $67.5K | -72.7% |
Housing Supply in 56248, MN
How many homes are available in 56248, MN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Summary: The 56248 real estate market had 4 homes for sale in September 2024, a 33.3% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56248 housing inventory by bedroom type for September 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 25%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 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 56248, 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 56248 in September 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 56248, MN
How long does it take to sell a home in 56248, MN?
Average Sale Time
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 50 Days | 30 Days | -40.6% |
Summary: Homes in 56248 had an average of 30 days on market in Sep 2024, down by 40.6% compared to last month.
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 56248 has remained consistent over time.
Summary: During September 2024, 1 homes were sold in 56248; 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.
