$2,136 Closing Credit*
$179,900
1,626 SqFt
4 Beds
•1 Full Bath
Listing Office: eXp Realty
Is 56381, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56381 has remained a Seller's Market.
Key Takeaway
56381 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56381, MN
How much do homes in 56381, MN cost?
Median Sold Price
$236,500
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$55,550(+30.7%)
Key Takeaway
Homes in 56381 have sold for 30.7% more than they did a year ago.
Summary: The median home sold price in 56381 was $236,500 in October 2024, up 30.7% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $385K | +352.9% |
| 2 Bedrooms | $202K | $200.7K | -0.6% |
| 3 Bedrooms | $180.9K | $230K | +27.1% |
| 4 Bedrooms | $228.5K | $236.5K | +3.5% |
| 5+ Bedrooms | - | $579.5K | N/A |
Summary: 56381 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 352.9%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56381 | $180.9K | $236.5K | +30.7% |
| 56334 | $251K | $290K | +15.5% |
Housing Supply in 56381, MN
How many homes are available in 56381, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The 56381 real estate market had 13 homes for sale in October 2024, a 8.3% increase 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56381 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, 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
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56381, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56381 in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for 56381, MN
How long does it take to sell a home in 56381, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 4 Days | 25 Days | +525.0% |
Summary: Homes in 56381 had an average of 25 days on market in Oct 2024, up by 525% compared to last year.
Breakdown of Home Sale Times
3 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 56381 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 56381; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
