$3,086 Closing Credit*
$259,900
1,176 SqFt
2 Beds
•1 Full Bath
Listing Office: Central MN Realty LLC
Is 56288, 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, 56288 has remained a Seller's Market.
Key Takeaway
56288 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56288, MN
How much do homes in 56288, MN cost?
Median Sold Price
$464,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$62,300(+15.5%)
Key Takeaway
Homes in 56288 have sold for 15.5% more than they did a year ago.
Summary: The median home sold price in 56288 was $464,000 in October 2024, up 15.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $847.4K | $485K | -42.8% |
| 2 Bedrooms | $210K | $340K | +61.9% |
| 3 Bedrooms | $315K | $400.9K | +27.3% |
| 4 Bedrooms | $452.5K | $562K | +24.2% |
| 5+ Bedrooms | $490K | $861K | +75.7% |
Summary: 56288 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.8%, 2 bedroom homes increased by 61.9%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 75.7%.
Median Sold Price Compared To Nearby Zip Codes
| 56288 | $401.7K | $464K | +15.5% |
| 56209 | $270K | $295K | +9.3% |
| 56273 | $315K | $325K | +3.2% |
Housing Supply in 56288, MN
How many homes are available in 56288, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 37 | -17.8% |
Summary: The 56288 real estate market had 37 homes for sale in October 2024, a 17.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 16 | 12 | -25.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 56288 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56288, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 56288 in October 2024, down by 46.7% month-over-month. Of the 8 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 56288, MN
How long does it take to sell a home in 56288, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 35 Days | +2.0% |
Summary: Homes in 56288 had an average of 35 days on market in Oct 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
4 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 56288 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 56288; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
