$736 Closing Credit*
$62,000
1,056 SqFt
3 Beds
•1 Full Bath
Listing Office: Central MN Realty LLC
Is 56377, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 56377 has remained a Seller's Market.
Key Takeaway
56377 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56377, MN
How much do homes in 56377, MN cost?
Median Sold Price
$325,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$9,950(-3.0%)
Key Takeaway
Homes in 56377 have sold for 3% less than they did a year ago.
Summary: The median home sold price in 56377 was $325,000 in November 2024, down 3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | - | N/A |
| 2 Bedrooms | $262.5K | $270K | +2.9% |
| 3 Bedrooms | $285K | $284K | -0.4% |
| 4 Bedrooms | $350K | $345K | -1.4% |
| 5+ Bedrooms | $483.4K | $391.9K | -18.9% |
Summary: 56377 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 18.9%.
Housing Supply in 56377, MN
How many homes are available in 56377, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 80 | -3.6% |
Summary: The 56377 real estate market had 80 homes for sale in November 2024, a 3.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 34 | 32 | -5.9% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The 56377 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56377, you may be able to get a good deal. 35.3% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 56377 in November 2024, up by 21.4% month-over-month. Of the 17 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% were sold over asking.
Days on Market for 56377, MN
How long does it take to sell a home in 56377, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 35 Days | -35.7% |
Summary: Homes in 56377 had an average of 35 days on market in Nov 2024, down by 35.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56377 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 56377; 47% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
