$4,809 Closing Credit*
$405,000
3,066 SqFt
4 Beds
•1 Full Bath
Listing Office: Kuhlmann Real Estate, Inc.
Is 56278, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 56278 was a Seller's Market.
Key Takeaway
56278 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56278, MN
How much do homes in 56278, MN cost?
Median Sold Price
$100,000
$73/sqft
Based on all homes sold in December 2024.
Difference Since Last Month
-$122,500(-55.1%)
Key Takeaway
Homes in 56278 have sold for 55.1% less than they did a month ago.
Summary: The median home sold price in 56278 was $100,000 in December 2024, down 55.1% from last month, and the median price per square foot was $73.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $88.1K | - | N/A |
| 3 Bedrooms | $315K | $100K | -68.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56278 housing prices by bedroom type for December 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 decreased by 68.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 56278, MN
How many homes are available in 56278, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The 56278 real estate market had 13 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 | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56278 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
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 56278, 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 56278 in December 2024, down by 75.0% 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 56278, MN
How long does it take to sell a home in 56278, MN?
Average Sale Time
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 64 Days | 100 Days | +56.3% |
Summary: Homes in 56278 had an average of 100 days on market in Dec 2024, up by 56.3% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 56278 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During December 2024, 1 homes were sold in 56278; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
