$3,799 Closing Credit*
$319,898
1,627 SqFt
3 Beds
•2 Full Baths
Listing Office: RE/MAX Results
Is 56387, 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, 56387 was a Seller's Market.
Key Takeaway
56387 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56387, MN
How much do homes in 56387, MN cost?
Median Sold Price
$235,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,500(+1.1%)
Key Takeaway
Homes in 56387 have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in 56387 was $235,000 in October 2024, up 1.1% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | $86.4K | -42.3% |
| 2 Bedrooms | $238.5K | $245K | +2.7% |
| 3 Bedrooms | $238K | $222.5K | -6.5% |
| 4 Bedrooms | $230K | $242K | +5.2% |
| 5+ Bedrooms | $207.4K | $227.5K | +9.7% |
Summary: 56387 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42.3%, 2 bedroom homes increased by 2.7%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 9.7%.
Housing Supply in 56387, MN
How many homes are available in 56387, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Summary: The 56387 real estate market had 27 homes for sale in October 2024, a 8.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 4 | 8 | +100.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56387 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56387, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56387 in October 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 56387, MN
How long does it take to sell a home in 56387, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 34 Days | +23.9% |
Summary: Homes in 56387 had an average of 34 days on market in Oct 2024, up by 23.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56387 has remained consistent over time.
Summary: During October 2024, 3 homes were sold in 56387; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
