$4,749 Closing Credit*
$399,900
3,054 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Central MN Realty LLC
Is 56334, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$290,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$39,000(+15.5%)
Key Takeaway
Homes in 56334 have sold for 15.5% more than they did a year ago.
Summary: The median home sold price in 56334 was $290,000 in October 2024, up 15.5% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278.7K | $180K | -35.4% |
| 2 Bedrooms | $257K | $210K | -18.3% |
| 3 Bedrooms | $175K | $321K | +83.4% |
| 4 Bedrooms | $332.5K | $322.5K | -3.0% |
| 5+ Bedrooms | $362.5K | $685K | +89.0% |
Summary: 56334 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.4%, 2 bedroom homes decreased by 18.3%, 3 bedroom homes increased by 83.4%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 89%.
Median Sold Price Compared To Nearby Zip Codes
| 56381 | $180.9K | $236.5K | +30.7% |
| 56334 | $251K | $290K | +15.5% |
Housing Supply in 56334, MN
How many homes are available in 56334, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 26 | -38.1% |
Summary: The 56334 real estate market had 26 homes for sale in October 2024, a 38.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 4 | -55.6% |
| 3 Bedrooms | 17 | 11 | -35.3% |
| 4 Bedrooms | 8 | 5 | -37.5% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 56334 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 55.6%, 3 bedroom homes decreased by 35.3%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 5 | -68.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56334, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 56334 in October 2024, down by 68.8% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 96 Days | +189.3% |
Summary: Homes in 56334 had an average of 96 days on market in Oct 2024, up by 189.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56334 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 5 homes were sold in 56334; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
