$10,000 Closing Credit*
$925,000
2,016 SqFt
3 Beds
•1 Full Bath
Listing Office: Wolff & Simon Real Estate
Is 56470, 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, 56470 was a Seller's Market.
Key Takeaway
56470 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56470, MN
How much do homes in 56470, MN cost?
Median Sold Price
$308,500
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,500(+10.2%)
Key Takeaway
Homes in 56470 have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in 56470 was $308,500 in October 2024, up 10.2% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177.9K | $347.5K | +95.3% |
| 2 Bedrooms | $207K | $228.7K | +10.5% |
| 3 Bedrooms | $329K | $303K | -7.9% |
| 4 Bedrooms | $370K | $335K | -9.5% |
| 5+ Bedrooms | $324.9K | $437.4K | +34.6% |
Summary: 56470 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95.3%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 34.6%.
Housing Supply in 56470, MN
How many homes are available in 56470, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 76 | -10.6% |
Summary: The 56470 real estate market had 76 homes for sale in October 2024, a 10.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 19 | 15 | -21.1% |
| 3 Bedrooms | 41 | 36 | -12.2% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56470 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56470, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 56470 in October 2024, down by 44.4% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for 56470, MN
How long does it take to sell a home in 56470, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 41 Days | +19.3% |
Summary: Homes in 56470 had an average of 41 days on market in Oct 2024, up by 19.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56470 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in 56470; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
