$3,551 Closing Credit*
$299,000
1,508 SqFt
3 Beds
•1 Full Bath
Listing Office: Gilchrist Realty
Is 56442, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 56442 was a Buyer'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
$529,900
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$35,100(-6.2%)
Key Takeaway
Homes in 56442 have sold for 6.2% less than they did a year ago.
Summary: The median home sold price in 56442 was $529,900 in November 2024, down 6.2% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177K | $105K | -40.7% |
| 2 Bedrooms | $389.9K | $295.5K | -24.2% |
| 3 Bedrooms | $622.4K | $564K | -9.4% |
| 4 Bedrooms | $910K | $1.4M | +54.9% |
| 5+ Bedrooms | $1.6M | $1.3M | -14.8% |
Summary: 56442 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.7%, 2 bedroom homes decreased by 24.2%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 54.9%, and 5+ bedroom homes decreased by 14.8%.
Median Sold Price Compared To Nearby Zip Codes
| 56447 | $343.5K | $363.7K | +5.9% |
| 56441 | $220K | $229K | +4.1% |
| 56442 | $565K | $529.9K | -6.2% |
| 56465 | $459K | $430K | -6.3% |
Housing Supply in 56442, MN
How many homes are available in 56442, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 40 | -14.9% |
Summary: The 56442 real estate market had 40 homes for sale in November 2024, a 14.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 15 | 12 | -20.0% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56442 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Asking Price vs. Sold Price
5 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. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 56442 in November 2024, down by 30.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 73 Days | +443.9% |
Summary: Homes in 56442 had an average of 73 days on market in Nov 2024, up by 443.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56442 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 56442; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
