$2,374 Closing Credit*
$199,900
1,880 SqFt
2 Beds
•1 Full Bath
Listing Office: Coldwell Banker Crown Realtors
Is 56347, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 56347 was a Seller's Market.
Key Takeaway
56347 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56347, MN
How much do homes in 56347, MN cost?
Median Sold Price
$207,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$22,900(-10.0%)
Key Takeaway
Homes in 56347 have sold for 10% less than they did a year ago.
Summary: The median home sold price in 56347 was $207,000 in November 2024, down 10% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $51K | $135K | +164.7% |
| 2 Bedrooms | $145K | $209.4K | +44.4% |
| 3 Bedrooms | $215K | $190K | -11.6% |
| 4 Bedrooms | $234K | $259.9K | +11.1% |
| 5+ Bedrooms | $937.5K | $437.5K | -53.3% |
Summary: 56347 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 164.7%, 2 bedroom homes increased by 44.4%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 53.3%.
Median Sold Price Compared To Nearby Zip Codes
| 56360 | $250K | $252K | +0.8% |
| 56347 | $229.9K | $207K | -10.0% |
Housing Supply in 56347, MN
How many homes are available in 56347, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 26 | -10.3% |
Summary: The 56347 real estate market had 26 homes for sale in November 2024, a 10.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56347 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56347, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56347 in November 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 17 Days | +88.9% |
Summary: Homes in 56347 had an average of 17 days on market in Nov 2024, up by 88.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56347 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in 56347; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
