$31,000
Land
Listing Office: Breezy Point Real Estate
Is 56472, 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, 56472 was a Seller's Market.
Key Takeaway
56472 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56472, MN
How much do homes in 56472, MN cost?
Median Sold Price
$384,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$41,000(-9.6%)
Key Takeaway
Homes in 56472 have sold for 9.6% less than they did a year ago.
Summary: The median home sold price in 56472 was $384,000 in October 2024, down 9.6% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $190K | -19.1% |
| 2 Bedrooms | $295.5K | $306.2K | +3.6% |
| 3 Bedrooms | $445K | $352.5K | -20.8% |
| 4 Bedrooms | $450K | $460K | +2.2% |
| 5+ Bedrooms | $610K | $637.5K | +4.5% |
Summary: 56472 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 20.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in 56472, MN
How many homes are available in 56472, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 111 | +3.7% |
Summary: The 56472 real estate market had 111 homes for sale in October 2024, a 3.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 15 | 19 | +26.7% |
| 3 Bedrooms | 41 | 39 | -4.9% |
| 4 Bedrooms | 36 | 37 | +2.8% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The 56472 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 increased by 26.7%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56472, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 56472 in October 2024, down by 27.8% month-over-month. Of the 13 sold homes, 54% were sold under asking, 46% were sold at asking, and 0% were sold over asking.
Days on Market for 56472, MN
How long does it take to sell a home in 56472, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 46 Days | +125.1% |
Summary: Homes in 56472 had an average of 46 days on market in Oct 2024, up by 125.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56472 has remained consistent over time.
Summary: During October 2024, 13 homes were sold in 56472; 31% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
