$4,986 Closing Credit*
$419,900
2,236 SqFt
4 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 56308, 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, 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
$355,187
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,554(+4.6%)
Key Takeaway
Homes in 56308 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 56308 was $355,187 in November 2024, up 4.6% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111K | $159.9K | +44.1% |
| 2 Bedrooms | $290K | $274.9K | -5.2% |
| 3 Bedrooms | $315K | $340K | +7.9% |
| 4 Bedrooms | $379.9K | $387.5K | +2.0% |
| 5+ Bedrooms | $536.5K | $470K | -12.4% |
Summary: 56308 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.1%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 12.4%.
Housing Supply in 56308, MN
How many homes are available in 56308, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 158 | 147 | -7.0% |
Summary: The 56308 real estate market had 147 homes for sale in November 2024, a 7.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 30 | 34 | +13.3% |
| 3 Bedrooms | 59 | 53 | -10.2% |
| 4 Bedrooms | 43 | 36 | -16.3% |
| 5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The 56308 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 13.3%, 3 bedroom homes decreased by 10.2%, 4 bedroom homes decreased by 16.3%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 27 | -22.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56308, you may be able to get a good deal. 63% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 56308 in November 2024, down by 22.9% month-over-month. Of the 27 sold homes, 63% were sold under asking, 26% were sold at asking, and 11% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 58 Days | +61.1% |
Summary: Homes in 56308 had an average of 58 days on market in Nov 2024, up by 61.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
12 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 November 2024, 27 homes were sold in 56308; 41% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
