$4,131 Closing Credit*
$347,900
1,196 SqFt
2 Beds
•1 Full Bath
Listing Office: Weichert REALTORS Tower Properties
Is 56473, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56473 has remained a Seller's Market.
Key Takeaway
56473 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56473, MN
How much do homes in 56473, MN cost?
Median Sold Price
$290,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,000(-4.9%)
Key Takeaway
Homes in 56473 have sold for 4.9% less than they did a year ago.
Summary: The median home sold price in 56473 was $290,000 in October 2024, down 4.9% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135.6K | - | N/A |
| 2 Bedrooms | $225K | $246.2K | +9.4% |
| 3 Bedrooms | $307.5K | $259.9K | -15.5% |
| 4 Bedrooms | $360K | $485K | +34.7% |
| 5+ Bedrooms | $500K | $542K | +8.4% |
Summary: 56473 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes increased by 34.7%, and 5+ bedroom homes increased by 8.4%.
Housing Supply in 56473, MN
How many homes are available in 56473, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The 56473 real estate market had 11 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 56473 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 50%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56473, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 56473 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 56473, MN
How long does it take to sell a home in 56473, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 8 Days | -76.6% |
Summary: Homes in 56473 had an average of 8 days on market in Oct 2024, down by 76.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56473 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 56473; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
