$29,900
Land
Listing Office: Keller Williams Realty Professionals
Is 56475, 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, 56475 has remained a Seller's Market.
Key Takeaway
56475 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56475, MN
How much do homes in 56475, MN cost?
Median Sold Price
$230,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+2.2%)
Key Takeaway
Homes in 56475 have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in 56475 was $230,000 in November 2024, up 2.2% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $151.5K | $110K | -27.4% |
| 2 Bedrooms | $233.7K | $175.7K | -24.8% |
| 3 Bedrooms | $209.9K | $190K | -9.5% |
| 4 Bedrooms | $238.9K | $326.5K | +36.7% |
| 5+ Bedrooms | $190K | $590K | +210.5% |
Summary: 56475 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.4%, 2 bedroom homes decreased by 24.8%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 36.7%, and 5+ bedroom homes increased by 210.5%.
Median Sold Price Compared To Nearby Zip Codes
| 56345 | $230K | $240K | +4.3% |
| 56475 | $225K | $230K | +2.2% |
| 56347 | $229.9K | $207K | -10.0% |
Housing Supply in 56475, MN
How many homes are available in 56475, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The 56475 real estate market had 9 homes for sale in November 2024, a 10.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56475 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 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 56475, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56475 in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 56475, MN
How long does it take to sell a home in 56475, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 12 Days | -20.0% |
Summary: Homes in 56475 had an average of 12 days on market in Nov 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
4 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 56475 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 56475; 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.
