$1,645 Closing Credit*
$138,500
2,185 SqFt
2 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 56258, 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, 56258 has remained a Seller's Market.
Key Takeaway
56258 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56258, MN
How much do homes in 56258, MN cost?
Median Sold Price
$229,250
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,250(+11.8%)
Key Takeaway
Homes in 56258 have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in 56258 was $229,250 in October 2024, up 11.8% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116.2K | $90K | -22.6% |
| 2 Bedrooms | $150K | $160K | +6.7% |
| 3 Bedrooms | $176K | $201.2K | +14.3% |
| 4 Bedrooms | $250K | $240K | -4.0% |
| 5+ Bedrooms | $256.2K | $335K | +30.7% |
Summary: 56258 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.6%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 30.7%.
Housing Supply in 56258, MN
How many homes are available in 56258, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 50 | +11.1% |
Summary: The 56258 real estate market had 50 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 56258 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56258, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 56258 in October 2024, down by 28.6% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 56258, MN
How long does it take to sell a home in 56258, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 48 Days | +25.7% |
Summary: Homes in 56258 had an average of 48 days on market in Oct 2024, up by 25.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56258 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in 56258; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
