$7,113 Closing Credit*
$599,000
2,120 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Elite Real Estate Services
Is 56303, 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, 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
$225,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,000(+1.4%)
Key Takeaway
Homes in 56303 have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in 56303 was $225,000 in November 2024, up 1.4% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149K | $102.5K | -31.2% |
| 2 Bedrooms | $171.6K | $185K | +7.8% |
| 3 Bedrooms | $220K | $220K | 0.0% |
| 4 Bedrooms | $235K | $270K | +14.9% |
| 5+ Bedrooms | $250K | $279.5K | +11.8% |
Summary: 56303 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.2%, 2 bedroom homes increased by 7.8%, 3 bedroom homes did not change, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in 56303, MN
How many homes are available in 56303, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 106 | 106 | 0.0% |
Summary: The 56303 real estate market had 106 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 21 | 21 | 0.0% |
| 3 Bedrooms | 41 | 41 | 0.0% |
| 4 Bedrooms | 30 | 31 | +3.3% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The 56303 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 32 | +23.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56303, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in 56303 in November 2024, up by 23.1% month-over-month. Of the 32 sold homes, 34% were sold under asking, 28% were sold at asking, and 38% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 25 Days | +19.9% |
Summary: Homes in 56303 had an average of 25 days on market in Nov 2024, up by 19.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56303 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 32 homes were sold in 56303; 56% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
