$4,738 Closing Credit*
$399,000
2,715 SqFt
3 Beds
•1 Full Bath
Listing Office: Freeman Real Estate
Is 56304, 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, 56304 has remained a Seller's Market.
Key Takeaway
56304 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56304, MN
How much do homes in 56304, MN cost?
Median Sold Price
$292,337
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,337(+13.8%)
Key Takeaway
Homes in 56304 have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in 56304 was $292,337 in October 2024, up 13.8% 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 | $405K | $112K | -72.3% |
| 2 Bedrooms | $163K | $190K | +16.6% |
| 3 Bedrooms | $237K | $233.3K | -1.5% |
| 4 Bedrooms | $272.5K | $322.5K | +18.3% |
| 5+ Bedrooms | $349.9K | $368.4K | +5.3% |
Summary: 56304 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 72.3%, 2 bedroom homes increased by 16.6%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 5.3%.
Housing Supply in 56304, MN
How many homes are available in 56304, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 70 | +9.4% |
Summary: The 56304 real estate market had 70 homes for sale in October 2024, a 9.4% 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The 56304 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 decreased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 16 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56304, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 56304 in October 2024, up by 100.0% month-over-month. Of the 16 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% were sold over asking.
Days on Market for 56304, MN
How long does it take to sell a home in 56304, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 61 Days | +125.0% |
Summary: Homes in 56304 had an average of 61 days on market in Oct 2024, up by 125% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56304 has remained consistent over time.
Summary: During October 2024, 16 homes were sold in 56304; 25% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
