$3,561 Closing Credit*
$299,900
2,140 SqFt
3 Beds
•1 Full Bath
Listing Office: eXp Realty
Is 56450, 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, 56450 was a Seller's Market.
Key Takeaway
56450 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56450, MN
How much do homes in 56450, MN cost?
Median Sold Price
$268,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,500(+10.5%)
Key Takeaway
Homes in 56450 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 56450 was $268,000 in November 2024, up 10.5% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138.9K | $144.9K | +4.3% |
| 2 Bedrooms | $215.9K | $262.5K | +21.6% |
| 3 Bedrooms | $307.4K | $285.2K | -7.2% |
| 4 Bedrooms | $365K | $330K | -9.6% |
| 5+ Bedrooms | $173K | $419K | +142.2% |
Summary: 56450 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 21.6%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes increased by 142.2%.
Housing Supply in 56450, MN
How many homes are available in 56450, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The 56450 real estate market had 15 homes for sale in November 2024, a 6.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 56450 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 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 56450, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 56450 in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 56450, MN
How long does it take to sell a home in 56450, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 65 Days | +225.0% |
Summary: Homes in 56450 had an average of 65 days on market in Nov 2024, up by 225% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56450 has remained consistent over time.
Summary: During November 2024, 1 homes were sold in 56450; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
