$4,749 Closing Credit*
$399,900
820 SqFt
2 Beds
•1 Full Bath
Listing Office: Realty Executives Alex H S
Is 56354, 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, 56354 was a Neutral Market.
Key Takeaway
56354 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56354, MN
How much do homes in 56354, MN cost?
Median Sold Price
$425,250
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$37,750(+9.7%)
Key Takeaway
Homes in 56354 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 56354 was $425,250 in October 2024, up 9.7% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $327K | $340.2K | +4.1% |
| 3 Bedrooms | $360K | $430K | +19.4% |
| 4 Bedrooms | $595K | $425K | -28.6% |
| 5+ Bedrooms | $392.5K | $625K | +59.2% |
Summary: 56354 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 19.4%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 59.2%.
Median Sold Price Compared To Nearby Zip Codes
| 56354 | $387.5K | $425.2K | +9.7% |
| 56308 | $336K | $350K | +4.2% |
Housing Supply in 56354, MN
How many homes are available in 56354, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Summary: The 56354 real estate market had 13 homes for sale in October 2024, a 27.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 56354 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 50%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56354, 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 56354 in October 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 56354, MN
How long does it take to sell a home in 56354, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 100 Days | 20 Days | -80.0% |
Summary: Homes in 56354 had an average of 20 days on market in Oct 2024, down by 80% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56354 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 56354; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
