$5,938 Closing Credit*
$500,000
3,146 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Counselor Realty Inc of Alex
Is 56308, 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, 56308 has remained a Seller's Market.
Key Takeaway
56308 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56308, MN
How much do homes in 56308, MN cost?
Median Sold Price
$350,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,000(+4.2%)
Key Takeaway
Homes in 56308 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 56308 was $350,000 in October 2024, up 4.2% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111K | $159.9K | +44.1% |
| 2 Bedrooms | $292.5K | $270K | -7.7% |
| 3 Bedrooms | $309.2K | $335K | +8.3% |
| 4 Bedrooms | $379.2K | $385K | +1.5% |
| 5+ Bedrooms | $567.5K | $470K | -17.2% |
Summary: 56308 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.1%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 17.2%.
Median Sold Price Compared To Nearby Zip Codes
| 56327 | $299.5K | $334.9K | +11.8% |
| 56308 | $336K | $350K | +4.2% |
| 56332 | $358.5K | $350K | -2.4% |
Housing Supply in 56308, MN
How many homes are available in 56308, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 173 | 168 | -2.9% |
Summary: The 56308 real estate market had 168 homes for sale in October 2024, a 2.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 38 | 34 | -10.5% |
| 3 Bedrooms | 53 | 62 | +17.0% |
| 4 Bedrooms | 52 | 45 | -13.5% |
| 5+ Bedrooms | 28 | 25 | -10.7% |
Summary: The 56308 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 10.5%, 3 bedroom homes increased by 17%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes decreased by 10.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 43 | 34 | -20.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56308, you may be able to get a good deal. 55.9% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 56308 in October 2024, down by 20.9% month-over-month. Of the 34 sold homes, 56% were sold under asking, 29% were sold at asking, and 15% were sold over asking.
Days on Market for 56308, MN
How long does it take to sell a home in 56308, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 51 Days | +92.6% |
Summary: Homes in 56308 had an average of 51 days on market in Oct 2024, up by 92.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56308 has remained consistent over time.
Summary: During October 2024, 34 homes were sold in 56308; 41% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
