$145,000
Land
Listing Office: Whitetail Properties Real
Is 56474, 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, 56474 has remained a Seller's Market.
Key Takeaway
56474 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56474, MN
How much do homes in 56474, MN cost?
Median Sold Price
$275,500
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$5,400(-1.9%)
Key Takeaway
Homes in 56474 have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in 56474 was $275,500 in November 2024, down 1.9% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $148K | $174.9K | +18.2% |
| 2 Bedrooms | $249.4K | $157K | -37.1% |
| 3 Bedrooms | $294.5K | $344K | +16.8% |
| 4 Bedrooms | $319.5K | $395K | +23.6% |
| 5+ Bedrooms | $1.3M | $775K | -44.4% |
Summary: 56474 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes decreased by 37.1%, 3 bedroom homes increased by 16.8%, 4 bedroom homes increased by 23.6%, and 5+ bedroom homes decreased by 44.4%.
Housing Supply in 56474, MN
How many homes are available in 56474, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Summary: The 56474 real estate market had 29 homes for sale in November 2024, a 7.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 56474 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56474, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 56474 in November 2024, up by 16.7% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for 56474, MN
How long does it take to sell a home in 56474, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 68 Days | 34 Days | -49.5% |
Summary: Homes in 56474 had an average of 34 days on market in Nov 2024, down by 49.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56474 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in 56474; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
