$7,124 Closing Credit*
$599,900
2,322 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 56315, 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, 56315 was a Seller's Market.
Key Takeaway
56315 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 56315, MN
How much do homes in 56315, MN cost?
Median Sold Price
$187,450
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$207,550(-52.5%)
Key Takeaway
Homes in 56315 have sold for 52.5% less than they did a year ago.
Summary: The median home sold price in 56315 was $187,450 in October 2024, down 52.5% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $187.5K | $149K | -20.5% |
| 3 Bedrooms | $493.7K | $390K | -21.0% |
| 4 Bedrooms | $405K | $177.5K | -56.2% |
| 5+ Bedrooms | $619.9K | $407.4K | -34.3% |
Summary: 56315 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 decreased by 20.5%, 3 bedroom homes decreased by 21%, 4 bedroom homes decreased by 56.2%, and 5+ bedroom homes decreased by 34.3%.
Median Sold Price Compared To Nearby Zip Codes
| 56332 | $358.5K | $350K | -2.4% |
| 56315 | $395K | $187.4K | -52.5% |
Housing Supply in 56315, MN
How many homes are available in 56315, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The 56315 real estate market had 12 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56315 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 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56315, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 56315 in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 56315, MN
How long does it take to sell a home in 56315, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 25 Days | -44.2% |
Summary: Homes in 56315 had an average of 25 days on market in Oct 2024, down by 44.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56315 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 56315; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
