$7,124 Closing Credit*
$599,900
3,709 SqFt
5 Beds
•2 Full Baths
Listing Office: Real Broker, LLC
Is 56474, 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, 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
$279,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$900(-0.3%)
Key Takeaway
The sold price of homes in 56474 has remained the same since last year.
Summary: The median home sold price in 56474 was $279,000 in October 2024, down 0.3% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $148K | $174.9K | +18.2% |
| 2 Bedrooms | $254K | $163.5K | -35.6% |
| 3 Bedrooms | $279.9K | $349.9K | +25.0% |
| 4 Bedrooms | $338K | $395K | +16.9% |
| 5+ Bedrooms | $1.2M | $1.6M | +30.5% |
Summary: 56474 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes decreased by 35.6%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 30.5%.
Housing Supply in 56474, MN
How many homes are available in 56474, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 29 | -3.3% |
Summary: The 56474 real estate market had 29 homes for sale in October 2024, a 3.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 12 | 11 | -8.3% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 56474 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 decreased by 8.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56474, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56474 in October 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 22 Days | -15.5% |
Summary: Homes in 56474 had an average of 22 days on market in Oct 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was 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 October 2024, 6 homes were sold in 56474; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
