$3,205 Closing Credit*
$269,900
632 SqFt
1 Bed
•1 Bath
Listing Office: Keller Williams Realty Professionals
Is 56342, 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, 56342 was a Seller's Market.
Key Takeaway
56342 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 56342, MN
How much do homes in 56342, MN cost?
Median Sold Price
$256,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$4,000(-1.5%)
Key Takeaway
Homes in 56342 have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in 56342 was $256,000 in October 2024, down 1.5% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119.9K | $68.9K | -42.5% |
| 2 Bedrooms | $257.4K | $242.5K | -5.8% |
| 3 Bedrooms | $330K | $270K | -18.2% |
| 4 Bedrooms | $255.5K | $462.5K | +81.0% |
| 5+ Bedrooms | $455K | $600K | +31.9% |
Summary: 56342 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.5%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 81%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Zip Codes
| 55007 | $240K | $292K | +21.7% |
| 55051 | $249.9K | $271.9K | +8.8% |
| 56342 | $260K | $256K | -1.5% |
| 56386 | $399.9K | $325K | -18.7% |
Housing Supply in 56342, MN
How many homes are available in 56342, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 36 | -2.7% |
Summary: The 56342 real estate market had 36 homes for sale in October 2024, a 2.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56342 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56342, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56342 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 56342, MN
How long does it take to sell a home in 56342, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 38 Days | +65.0% |
Summary: Homes in 56342 had an average of 38 days on market in Oct 2024, up by 65% compared to last year.
Breakdown of Home Sale Times
4 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 56342 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 56342; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
