$3,086 Closing Credit*
$259,900
1,844 SqFt
3 Beds
•1 Full Bath
Listing Office: John Russell Real Estate Inc.
Is 56367, 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, 56367 was a Neutral Market.
Key Takeaway
56367 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56367, MN
How much do homes in 56367, MN cost?
Median Sold Price
$325,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,100(+12.1%)
Key Takeaway
Homes in 56367 have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in 56367 was $325,000 in October 2024, up 12.1% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $235K | N/A |
| 2 Bedrooms | $257.4K | $327.4K | +27.2% |
| 3 Bedrooms | $300K | $289.4K | -3.5% |
| 4 Bedrooms | $292.4K | $330K | +12.8% |
| 5+ Bedrooms | $465K | $463.8K | -0.2% |
Summary: 56367 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 27.2%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 0.2%.
Housing Supply in 56367, MN
How many homes are available in 56367, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 25 | +38.9% |
Summary: The 56367 real estate market had 25 homes for sale in October 2024, a 38.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 6 | 12 | +100.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56367 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56367, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 56367 in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for 56367, MN
How long does it take to sell a home in 56367, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 10 Days | -82.0% |
Summary: Homes in 56367 had an average of 10 days on market in Oct 2024, down by 82% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56367 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 56367; 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.
