$4,382 Closing Credit*
$369,000
988 SqFt
3 Beds
•1 Full Bath
Listing Office: Weichert REALTORS Tower Properties
Is 56253, 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, 56253 has remained a Seller's Market.
Key Takeaway
56253 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56253, MN
How much do homes in 56253, MN cost?
Median Sold Price
$280,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+12.0%)
Key Takeaway
Homes in 56253 have sold for 12% more than they did a year ago.
Summary: The median home sold price in 56253 was $280,000 in October 2024, up 12% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $399K | +59.6% |
| 2 Bedrooms | $225K | $121.8K | -45.8% |
| 3 Bedrooms | $197.2K | $235K | +19.1% |
| 4 Bedrooms | $428.5K | $296.5K | -30.8% |
| 5+ Bedrooms | $330K | $935K | +183.3% |
Summary: 56253 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 59.6%, 2 bedroom homes decreased by 45.8%, 3 bedroom homes increased by 19.1%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes increased by 183.3%.
Median Sold Price Compared To Nearby Zip Codes
| 56253 | $250K | $280K | +12.0% |
| 56201 | $215K | $234.9K | +9.3% |
| 56209 | $270K | $295K | +9.3% |
Housing Supply in 56253, MN
How many homes are available in 56253, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The 56253 real estate market had 4 homes for sale in October 2024, a 20.0% decrease 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 | 2 | 3 | +50.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 56253 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 increased by 50%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56253, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 56253 in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56253, MN
How long does it take to sell a home in 56253, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 41 Days | +105.0% |
Summary: Homes in 56253 had an average of 41 days on market in Oct 2024, up by 105% 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 56253 has remained consistent over time.
Summary: During October 2024, 1 homes were sold in 56253; 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.
