$1,899 Closing Credit*
$159,900
1,873 SqFt
3 Beds
•1 Full Bath
Listing Office: Hinkle Realty
Is 56482, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 56482 was a Seller's Market.
Key Takeaway
56482 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56482, MN
How much do homes in 56482, MN cost?
Median Sold Price
$195,400
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,400(+11.7%)
Key Takeaway
Homes in 56482 have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in 56482 was $195,400 in October 2024, up 11.7% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $33K | N/A |
| 2 Bedrooms | $134K | $148K | +10.4% |
| 3 Bedrooms | $167.7K | $164.5K | -1.9% |
| 4 Bedrooms | $247K | $201.5K | -18.4% |
| 5+ Bedrooms | $360K | $281.9K | -21.7% |
Summary: 56482 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 10.4%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 18.4%, and 5+ bedroom homes decreased by 21.7%.
Housing Supply in 56482, MN
How many homes are available in 56482, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 43 | 42 | -2.3% |
Summary: The 56482 real estate market had 42 homes for sale in October 2024, a 2.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56482 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56482, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 56482 in October 2024, down by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 18 Days | -36.8% |
Summary: Homes in 56482 had an average of 18 days on market in Oct 2024, down by 36.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56482 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 56482; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
