$395,000
Land
Listing Office: Whitetail Properties Real
Is 56470, 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, 56470 has remained a Seller's Market.
Key Takeaway
56470 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56470, MN
How much do homes in 56470, MN cost?
Median Sold Price
$306,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,500(+8.3%)
Key Takeaway
Homes in 56470 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 56470 was $306,000 in November 2024, up 8.3% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $208.9K | $347.5K | +66.3% |
| 2 Bedrooms | $207K | $250K | +20.8% |
| 3 Bedrooms | $329.4K | $299.9K | -9.0% |
| 4 Bedrooms | $365K | $322.5K | -11.6% |
| 5+ Bedrooms | $370K | $499.9K | +35.1% |
Summary: 56470 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66.3%, 2 bedroom homes increased by 20.8%, 3 bedroom homes decreased by 9%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes increased by 35.1%.
Housing Supply in 56470, MN
How many homes are available in 56470, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 65 | 64 | -1.5% |
Summary: The 56470 real estate market had 64 homes for sale in November 2024, a 1.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 34 | 32 | -5.9% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56470 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56470, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 56470 in November 2024, up by 9.1% month-over-month. Of the 12 sold homes, 67% were sold under asking, 25% were sold at asking, and 8% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 135 Days | +304.0% |
Summary: Homes in 56470 had an average of 135 days on market in Nov 2024, up by 304% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56470 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 12 homes were sold in 56470; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
