$2,022 Closing Credit*
$170,302
1,680 SqFt
2 Beds
•1 Full Bath
Listing Office: Tim Collelo Realty LLC
Is 56301, 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, 56301 has remained a Seller's Market.
Key Takeaway
56301 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56301, MN
How much do homes in 56301, MN cost?
Median Sold Price
$285,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,000(+2.2%)
Key Takeaway
Homes in 56301 have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in 56301 was $285,000 in October 2024, up 2.2% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105.5K | - | N/A |
| 2 Bedrooms | $223K | $270K | +21.1% |
| 3 Bedrooms | $265.5K | $253.7K | -4.4% |
| 4 Bedrooms | $300K | $305K | +1.7% |
| 5+ Bedrooms | $358.9K | $337K | -6.1% |
Summary: 56301 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.1%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in 56301, MN
How many homes are available in 56301, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 129 | 137 | +6.2% |
Summary: The 56301 real estate market had 137 homes for sale in October 2024, a 6.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 21 | 21 | 0.0% |
| 3 Bedrooms | 36 | 40 | +11.1% |
| 4 Bedrooms | 47 | 51 | +8.5% |
| 5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The 56301 housing inventory by bedroom type for October 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 11.1%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 26 | -3.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56301, you could pay more than the asking price. 42.3% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 56301 in October 2024, down by 3.7% month-over-month. Of the 26 sold homes, 31% were sold under asking, 27% were sold at asking, and 42% were sold over asking.
Days on Market for 56301, MN
How long does it take to sell a home in 56301, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 28 Days | -20.8% |
Summary: Homes in 56301 had an average of 28 days on market in Oct 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56301 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in 56301; 62% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
