$2,672 Closing Credit*
$225,000
1,665 SqFt
2 Beds
•1 Full Bath
Listing Office: East-West Realty of Long Prairie, Inc.
Is 56347, 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, 56347 has remained a Seller's Market.
Key Takeaway
56347 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56347, MN
How much do homes in 56347, MN cost?
Median Sold Price
$209,450
$125/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$13,000(-5.8%)
Key Takeaway
Homes in 56347 have sold for 5.8% less than they did a year ago.
Summary: The median home sold price in 56347 was $209,450 in October 2024, down 5.8% from last year, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $51K | $135K | +164.7% |
| 2 Bedrooms | $131.5K | $209.4K | +59.3% |
| 3 Bedrooms | $215K | $193.7K | -9.9% |
| 4 Bedrooms | $234K | $258.9K | +10.7% |
| 5+ Bedrooms | $890K | $437.5K | -50.8% |
Summary: 56347 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 164.7%, 2 bedroom homes increased by 59.3%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 50.8%.
Median Sold Price Compared To Nearby Zip Codes
| 56360 | $245K | $260K | +6.1% |
| 56347 | $222.4K | $209.4K | -5.8% |
Housing Supply in 56347, MN
How many homes are available in 56347, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 33 | +3.1% |
Summary: The 56347 real estate market had 33 homes for sale in October 2024, a 3.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 13 | 8 | -38.5% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The 56347 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 38.5%, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56347, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56347 in October 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 56347, MN
How long does it take to sell a home in 56347, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 40 Days | +134.6% |
Summary: Homes in 56347 had an average of 40 days on market in Oct 2024, up by 134.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56347 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 56347; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
