$10,000 Closing Credit*
$949,000
3,775 SqFt
5 Beds
•3 Full Baths, 1 Partial
Listing Office: Werschay Real Estate Services
Is 56377, 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, 56377 was a Seller's Market.
Key Takeaway
56377 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56377, MN
How much do homes in 56377, MN cost?
Median Sold Price
$327,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$12,900(-3.8%)
Key Takeaway
Homes in 56377 have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in 56377 was $327,000 in October 2024, down 3.8% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | - | N/A |
| 2 Bedrooms | $262.5K | $267.5K | +1.9% |
| 3 Bedrooms | $285K | $284.5K | -0.2% |
| 4 Bedrooms | $349.9K | $345K | -1.4% |
| 5+ Bedrooms | $483.4K | $432.4K | -10.5% |
Summary: 56377 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 1.9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 10.5%.
Housing Supply in 56377, MN
How many homes are available in 56377, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 90 | 0.0% |
Summary: The 56377 real estate market had 90 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 24 | 26 | +8.3% |
| 4 Bedrooms | 41 | 38 | -7.3% |
| 5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The 56377 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 remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 14 | -33.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56377, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 56377 in October 2024, down by 33.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 49 Days | 52 Days | +7.3% |
Summary: Homes in 56377 had an average of 52 days on market in Oct 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56377 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 56377; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
