$79,900
Land
Listing Office: Wits Realty
Is 56450, 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, 56450 was a Neutral 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
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,000(+5.1%)
Key Takeaway
Homes in 56450 have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in 56450 was $268,000 in October 2024, up 5.1% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $179.9K | $110K | -38.9% |
| 2 Bedrooms | $198.4K | $262.5K | +32.3% |
| 3 Bedrooms | $270K | $302.5K | +12.0% |
| 4 Bedrooms | $365K | $330K | -9.6% |
| 5+ Bedrooms | $511.5K | $419K | -18.1% |
Summary: 56450 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.9%, 2 bedroom homes increased by 32.3%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 9.6%, and 5+ bedroom homes decreased by 18.1%.
Housing Supply in 56450, MN
How many homes are available in 56450, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Summary: The 56450 real estate market had 19 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 56450 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 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56450, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 56450 in October 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 14 Days | 124 Days | +789.3% |
Summary: Homes in 56450 had an average of 124 days on market in Oct 2024, up by 789.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56450 has remained consistent over time.
Summary: During October 2024, 2 homes were sold in 56450; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
