$2,493 Closing Credit*
$209,900
1,280 SqFt
2 Beds
•2 Full Baths
Listing Office: Weichert RE - Paulson Land Co
Is 56515, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 56515 was a Buyer's Market.
Key Takeaway
56515 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 56515, MN
How much do homes in 56515, MN cost?
Median Sold Price
$230,000
$294/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$67,500(-22.7%)
Key Takeaway
Homes in 56515 have sold for 22.7% less than they did a month ago.
Summary: The median home sold price in 56515 was $230,000 in October 2024, down 22.7% from last month, and the median price per square foot was $294.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $162K | N/A |
| 2 Bedrooms | $297.5K | $230K | -22.7% |
| 3 Bedrooms | - | $149K | N/A |
| 4 Bedrooms | - | $830K | N/A |
| 5+ Bedrooms | - | $1.0M | N/A |
Summary: 56515 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 22.7%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56515 | $297.5K | $230K | -22.7% |
| 56576 | $563.5K | $209.9K | -62.8% |
Housing Supply in 56515, MN
How many homes are available in 56515, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 30 | +36.4% |
Summary: The 56515 real estate market had 30 homes for sale in October 2024, a 36.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 4 | 11 | +175.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 56515 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 12.5%, 3 bedroom homes increased by 175%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56515, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56515 in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 56515, MN
How long does it take to sell a home in 56515, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 43 Days | +294.5% |
Summary: Homes in 56515 had an average of 43 days on market in Oct 2024, up by 294.5% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56515 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 56515; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
