$2,375 Closing Credit*
$200,000
1,200 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 56303, 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, 56303 has remained a Seller's Market.
Key Takeaway
56303 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56303, MN
How much do homes in 56303, MN cost?
Median Sold Price
$225,500
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,500(+1.6%)
Key Takeaway
Homes in 56303 have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in 56303 was $225,500 in October 2024, up 1.6% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142K | $65K | -54.2% |
| 2 Bedrooms | $171.3K | $184.9K | +7.9% |
| 3 Bedrooms | $220K | $219.9K | 0% |
| 4 Bedrooms | $240K | $270K | +12.5% |
| 5+ Bedrooms | $248.5K | $286.3K | +15.2% |
Summary: 56303 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 54.2%, 2 bedroom homes increased by 7.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 15.2%.
Housing Supply in 56303, MN
How many homes are available in 56303, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 104 | 117 | +12.5% |
Summary: The 56303 real estate market had 117 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 43 | 44 | +2.3% |
| 4 Bedrooms | 29 | 33 | +13.8% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The 56303 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 25 | -13.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56303, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 56303 in October 2024, down by 13.8% month-over-month. Of the 25 sold homes, 28% were sold under asking, 20% were sold at asking, and 52% were sold over asking.
Days on Market for 56303, MN
How long does it take to sell a home in 56303, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 33 Days | +68.1% |
Summary: Homes in 56303 had an average of 33 days on market in Oct 2024, up by 68.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56303 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in 56303; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
