$3,088 Closing Credit*
$260,000
1,440 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Edina Realty
Is 56277, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 56277 has remained a Seller's Market.
Key Takeaway
56277 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56277, MN
How much do homes in 56277, MN cost?
Median Sold Price
$152,500
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$15,450(-9.2%)
Key Takeaway
Homes in 56277 have sold for 9.2% less than they did a year ago.
Summary: The median home sold price in 56277 was $152,500 in December 2024, down 9.2% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $181.5K | $147.5K | -18.7% |
| 3 Bedrooms | $152K | $157.5K | +3.6% |
| 4 Bedrooms | $159.9K | $160K | 0.0% |
| 5+ Bedrooms | $265K | $85K | -67.9% |
Summary: 56277 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 67.9%.
Median Sold Price Compared To Nearby Zip Codes
| 55310 | $140K | $185K | +32.1% |
| 56277 | $167.9K | $152.5K | -9.2% |
Housing Supply in 56277, MN
How many homes are available in 56277, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Summary: The 56277 real estate market had 15 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56277 housing inventory by bedroom type for December 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 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
3 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 56277, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56277 in December 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56277, MN
How long does it take to sell a home in 56277, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 41 Days | 62 Days | +49.9% |
Summary: Homes in 56277 had an average of 62 days on market in Dec 2024, up by 49.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56277 has remained consistent over time.
Summary: During December 2024, 3 homes were sold in 56277; 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.
