Is 56466, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56466 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 56466 has remained a Seller's Market.

Key Takeaway

56466 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56466, MN

How much do homes in 56466, MN cost?

Median Sold Price

$287,500

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,500(+20.3%)

Key Takeaway

Homes in 56466 have sold for 20.3% more than they did a year ago.

Summary: The median home sold price in 56466 was $287,500 in October 2024, up 20.3% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $156.4K$150K
-4.1%
2 $175K$237.2K
+35.6%
3 $295K$328K
+11.2%
4 $277.5K$315K
+13.5%
5+ $1.0M$490K
-51.0%

Summary: 56466 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 35.6%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 51%.

Median Sold Price Compared To Nearby Zip Codes

56443
+42.6%
56466
+20.3%
56479
+13.0%
56438
+8.4%
56473
-4.9%

Housing Supply in 56466, MN

How many homes are available in 56466, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2224+9.1%

Summary: The 56466 real estate market had 24 homes for sale in October 2024, a 9.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 68
+33.3%
3 88
0.0%
4 45
+25.0%
5+ 00
0.0%

Summary: The 56466 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
26+200.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56466, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 56466 in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for 56466, MN

How long does it take to sell a home in 56466, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
50 Days99 Days+94.9%

Summary: Homes in 56466 had an average of 99 days on market in Oct 2024, up by 94.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56466 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 56466; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 56466, MN

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