$35,000
Land
Listing Office: eXp Realty
Is 56438, 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, 56438 has remained a Seller's Market.
Key Takeaway
56438 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56438, MN
How much do homes in 56438, MN cost?
Median Sold Price
$206,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,000(+8.4%)
Key Takeaway
Homes in 56438 have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in 56438 was $206,000 in October 2024, up 8.4% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $138K | N/A |
| 2 Bedrooms | $177.4K | $232K | +30.7% |
| 3 Bedrooms | $185K | $194K | +4.9% |
| 4 Bedrooms | $334.2K | $245K | -26.7% |
| 5+ Bedrooms | $365K | $189.9K | -48.0% |
Summary: 56438 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 30.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 48%.
Median Sold Price Compared To Nearby Zip Codes
| 56443 | $304.9K | $435K | +42.6% |
| 56438 | $190K | $206K | +8.4% |
| 56475 | $233.5K | $230K | -1.5% |
| 56347 | $222.4K | $209.4K | -5.8% |
Housing Supply in 56438, MN
How many homes are available in 56438, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The 56438 real estate market had 13 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 | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56438 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 20%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56438, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56438 in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 56438, MN
How long does it take to sell a home in 56438, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 146 Days | 27 Days | -81.5% |
Summary: Homes in 56438 had an average of 27 days on market in Oct 2024, down by 81.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56438 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56438; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
