$389,000
Land
Listing Office: Edina Realty, Inc.
Is 56464, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 56464 has remained a Seller's Market.
Key Takeaway
56464 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56464, MN
How much do homes in 56464, MN cost?
Median Sold Price
$235,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$1,000(-0.4%)
Key Takeaway
The sold price of homes in 56464 has remained the same since last year.
Summary: The median home sold price in 56464 was $235,000 in November 2024, down 0.4% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $159K | $180.2K | +13.4% |
| 2 Bedrooms | $191K | $167.9K | -12.1% |
| 3 Bedrooms | $273K | $264.5K | -3.1% |
| 4 Bedrooms | $342.2K | $310K | -9.4% |
| 5+ Bedrooms | $170K | $297.5K | +75.0% |
Summary: 56464 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes decreased by 12.1%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 75%.
Housing Supply in 56464, MN
How many homes are available in 56464, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 27 | 0.0% |
Summary: The 56464 real estate market had 27 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 56464 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 remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 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 56464, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56464 in November 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 56464, MN
How long does it take to sell a home in 56464, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 56 Days | 98 Days | +72.9% |
Summary: Homes in 56464 had an average of 98 days on market in Nov 2024, up by 72.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56464 has remained consistent over time.
Summary: During November 2024, 5 homes were sold in 56464; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
