$4,986 Closing Credit*
$419,900
2,636 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Lakes Area Realty, Inc.
Is 56273, 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, 56273 has remained a Seller's Market.
Key Takeaway
56273 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56273, MN
How much do homes in 56273, MN cost?
Median Sold Price
$325,000
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.2%)
Key Takeaway
Homes in 56273 have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in 56273 was $325,000 in October 2024, up 3.2% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.7K | $379.9K | +143.9% |
| 2 Bedrooms | $195.5K | $272.5K | +39.4% |
| 3 Bedrooms | $375K | $335K | -10.7% |
| 4 Bedrooms | $395K | $401.8K | +1.7% |
| 5+ Bedrooms | $402.5K | $475K | +18.0% |
Summary: 56273 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 143.9%, 2 bedroom homes increased by 39.4%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Zip Codes
| 56288 | $401.7K | $464K | +15.5% |
| 56273 | $315K | $325K | +3.2% |
| 56289 | $550K | $508K | -7.6% |
Housing Supply in 56273, MN
How many homes are available in 56273, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Summary: The 56273 real estate market had 25 homes for sale in October 2024, a 7.4% decrease 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 | 4 | 6 | +50.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56273 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 50%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56273, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56273 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 56273, MN
How long does it take to sell a home in 56273, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 38 Days | -37.4% |
Summary: Homes in 56273 had an average of 38 days on market in Oct 2024, down by 37.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56273 has remained consistent over time.
Summary: During October 2024, 6 homes were sold in 56273; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
