$10,000 Closing Credit*
$1,295,000
4,225 SqFt
6 Beds
•1 Full Bath, 2 Partial
Listing Office: Larson Group Real Estate/Kelle
Is 56442, 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, 56442 has remained a Seller's Market.
Key Takeaway
56442 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56442, MN
How much do homes in 56442, MN cost?
Median Sold Price
$520,000
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$45,000(-8.0%)
Key Takeaway
Homes in 56442 have sold for 8% less than they did a year ago.
Summary: The median home sold price in 56442 was $520,000 in October 2024, down 8% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177K | $105K | -40.7% |
| 2 Bedrooms | $379.9K | $289K | -23.9% |
| 3 Bedrooms | $622.4K | $515K | -17.3% |
| 4 Bedrooms | $910K | $1.4M | +54.9% |
| 5+ Bedrooms | $2.0M | $1.5M | -24.8% |
Summary: 56442 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.7%, 2 bedroom homes decreased by 23.9%, 3 bedroom homes decreased by 17.3%, 4 bedroom homes increased by 54.9%, and 5+ bedroom homes decreased by 24.8%.
Median Sold Price Compared To Nearby Zip Codes
| 56441 | $204.5K | $224.7K | +9.9% |
| 56447 | $340K | $363.7K | +7.0% |
| 56465 | $447.5K | $425K | -5.0% |
| 56442 | $565K | $520K | -8.0% |
Housing Supply in 56442, MN
How many homes are available in 56442, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 50 | -3.8% |
Summary: The 56442 real estate market had 50 homes for sale in October 2024, a 3.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 12 | 15 | +25.0% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 16 | 10 | -37.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56442 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56442, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56442 in October 2024, down by 40.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for 56442, MN
How long does it take to sell a home in 56442, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 88 Days | +89.6% |
Summary: Homes in 56442 had an average of 88 days on market in Oct 2024, up by 89.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56442 has remained consistent over time.
Summary: During October 2024, 9 homes were sold in 56442; 11% of homes were sold within 30 days, 78% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
