$135,000
Land
Listing Office: RE/MAX Results
Is 56312, 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, 56312 has remained a Seller's Market.
Key Takeaway
56312 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56312, MN
How much do homes in 56312, MN cost?
Median Sold Price
$244,000
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+6.6%)
Key Takeaway
Homes in 56312 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 56312 was $244,000 in November 2024, up 6.6% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $69K | $761.2K | +1003.3% |
| 3 Bedrooms | $264K | $151.5K | -42.6% |
| 4 Bedrooms | $227K | $251K | +10.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: 56312 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1003.3%, 3 bedroom homes decreased by 42.6%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56312 | $229K | $244K | +6.6% |
| 56273 | $322.5K | $326.4K | +1.2% |
| 56362 | $280K | $264.9K | -5.4% |
Housing Supply in 56312, MN
How many homes are available in 56312, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Summary: The 56312 real estate market had 8 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56312 housing inventory by bedroom type for November 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 remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56312, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56312 in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 56312, MN
How long does it take to sell a home in 56312, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 105 Days | 114 Days | +9.2% |
Summary: Homes in 56312 had an average of 114 days on market in Nov 2024, up by 9.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56312 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 3 homes were sold in 56312; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
