$295,000
Land
Listing Office: RE/MAX Preferred Realty
Is 56334, 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, 56334 has remained a Seller's Market.
Key Takeaway
56334 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56334, MN
How much do homes in 56334, MN cost?
Median Sold Price
$297,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,000(+17.9%)
Key Takeaway
Homes in 56334 have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in 56334 was $297,000 in November 2024, up 17.9% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278.7K | $180K | -35.4% |
| 2 Bedrooms | $241.5K | $225K | -6.8% |
| 3 Bedrooms | $215K | $328.2K | +52.7% |
| 4 Bedrooms | $325K | $343.7K | +5.8% |
| 5+ Bedrooms | $485K | $750K | +54.6% |
Summary: 56334 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.4%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 52.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 54.6%.
Median Sold Price Compared To Nearby Zip Codes
| 56381 | $180.9K | $238.2K | +31.6% |
| 56334 | $252K | $297K | +17.9% |
Housing Supply in 56334, MN
How many homes are available in 56334, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The 56334 real estate market had 23 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56334 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 remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56334, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56334 in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 56334, MN
How long does it take to sell a home in 56334, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 45 Days | +44.5% |
Summary: Homes in 56334 had an average of 45 days on market in Nov 2024, up by 44.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56334 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 56334; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
