$2,730 Closing Credit*
$229,900
1,538 SqFt
4 Beds
•1 Full Bath
Listing Office: Cedar Row Property Management LLC
Is 56301, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$290,000
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,666(+3.8%)
Key Takeaway
Homes in 56301 have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in 56301 was $290,000 in November 2024, up 3.8% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105.5K | - | N/A |
| 2 Bedrooms | $220K | $280K | +27.3% |
| 3 Bedrooms | $270K | $257.5K | -4.6% |
| 4 Bedrooms | $300K | $305K | +1.7% |
| 5+ Bedrooms | $331K | $333.5K | +0.8% |
Summary: 56301 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 0.8%.
Housing Supply in 56301, MN
How many homes are available in 56301, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 134 | 133 | -0.7% |
Summary: The 56301 real estate market had 133 homes for sale in November 2024, a 0.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 20 | 18 | -10.0% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 51 | 48 | -5.9% |
| 5+ Bedrooms | 22 | 22 | 0.0% |
Summary: The 56301 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56301, you may be able to get a good deal. 40.7% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 56301 in November 2024, down by 6.9% month-over-month. Of the 27 sold homes, 41% were sold under asking, 22% were sold at asking, and 37% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 60 Days | +155.4% |
Summary: Homes in 56301 had an average of 60 days on market in Nov 2024, up by 155.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 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 November 2024, 27 homes were sold in 56301; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
