Is 56482, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56482 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 56482 has remained a Seller's Market.

Key Takeaway

56482 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56482, MN

How much do homes in 56482, MN cost?

Median Sold Price

$194,900

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$15,900(+8.9%)

Key Takeaway

Homes in 56482 have sold for 8.9% more than they did a year ago.

Summary: The median home sold price in 56482 was $194,900 in December 2024, up 8.9% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $33K$80K
+142.4%
2 $135K$143.9K
+6.6%
3 $157K$169K
+7.6%
4 $190K$205K
+7.9%
5+ $349K$311.7K
-10.7%

Summary: 56482 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 142.4%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 10.7%.

Housing Supply in 56482, MN

How many homes are available in 56482, MN?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
4032-20.0%

Summary: The 56482 real estate market had 32 homes for sale in December 2024, a 20.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 22
0.0%
2 129
-25.0%
3 1715
-11.8%
4 74
-42.9%
5+ 22
0.0%

Summary: The 56482 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56482, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 56482 in December 2024, down by 27.3% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.

Days on Market for 56482, MN

How long does it take to sell a home in 56482, MN?

Average Sale Time

Dec 2023Dec 2024CHANGE
66 Days52 Days-21.3%

Summary: Homes in 56482 had an average of 52 days on market in Dec 2024, down by 21.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56482 has remained consistent over time.

Summary: During December 2024, 8 homes were sold in 56482; 25% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

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