$1,128 Closing Credit*
$95,000
864 SqFt
2 Beds
•1 Full Bath
Listing Office: Shady Oak Realty
Is 56278, 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, 56278 has remained a Buyer'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
$152,500
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$4,825(-3.1%)
Key Takeaway
Homes in 56278 have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in 56278 was $152,500 in October 2024, down 3.1% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $32K | $101.2K | +216.4% |
| 2 Bedrooms | $155K | $109.5K | -29.4% |
| 3 Bedrooms | $145K | $175K | +20.7% |
| 4 Bedrooms | $292K | $163.5K | -44.0% |
| 5+ Bedrooms | $181K | $357.5K | +97.5% |
Summary: 56278 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 216.4%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes increased by 20.7%, 4 bedroom homes decreased by 44%, and 5+ bedroom homes increased by 97.5%.
Housing Supply in 56278, MN
How many homes are available in 56278, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 15 | -16.7% |
Summary: The 56278 real estate market had 15 homes for sale in October 2024, a 16.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56278 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56278, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56278 in October 2024, down by 80.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 79 Days | +182.1% |
Summary: Homes in 56278 had an average of 79 days on market in Oct 2024, up by 182.1% 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 56278 has remained consistent over time.
Summary: During October 2024, 1 homes were sold in 56278; 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.
