$895,000
Land
Listing Office: Frontier Real Estate Group LLC
Is 56310, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 56310 was a Seller's Market.
Key Takeaway
56310 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56310, MN
How much do homes in 56310, MN cost?
Median Sold Price
$325,215
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,215(+3.6%)
Key Takeaway
Homes in 56310 have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in 56310 was $325,215 in October 2024, up 3.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $238K | - | N/A |
| 2 Bedrooms | $225K | $297.4K | +32.2% |
| 3 Bedrooms | $335K | $325.2K | -2.9% |
| 4 Bedrooms | $330K | $390.2K | +18.3% |
| 5+ Bedrooms | $314K | $305.9K | -2.6% |
Summary: 56310 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 32.2%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes decreased by 2.6%.
Housing Supply in 56310, MN
How many homes are available in 56310, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Summary: The 56310 real estate market had 19 homes for sale in October 2024, a 5.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 10 | 7 | -30.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56310 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56310, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 56310 in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for 56310, MN
How long does it take to sell a home in 56310, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 33 Days | +20.7% |
Summary: Homes in 56310 had an average of 33 days on market in Oct 2024, up by 20.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56310 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56310; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
