$4,263 Closing Credit*
$359,000
1,196 SqFt
3 Beds
•1 Full Bath, 1 Partial
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 November 2023
Since last year, 56515 has remained a Seller's Market.
Key Takeaway
56515 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56515, MN
How much do homes in 56515, MN cost?
Median Sold Price
$449,950
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$110,050(+32.4%)
Key Takeaway
Homes in 56515 have sold for 32.4% more than they did a year ago.
Summary: The median home sold price in 56515 was $449,950 in November 2024, up 32.4% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116.7K | $162K | +38.8% |
| 2 Bedrooms | $239.9K | $267K | +11.3% |
| 3 Bedrooms | $360K | $549.9K | +52.8% |
| 4 Bedrooms | $538.5K | $587K | +9.0% |
| 5+ Bedrooms | $367.5K | $965K | +162.6% |
Summary: 56515 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.8%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 52.8%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 162.6%.
Median Sold Price Compared To Nearby Zip Codes
| 56515 | $339.9K | $449.9K | +32.4% |
| 56551 | $350K | $195K | -44.3% |
| 56576 | $682.4K | $231K | -66.2% |
Housing Supply in 56515, MN
How many homes are available in 56515, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Summary: The 56515 real estate market had 24 homes for sale in November 2024, a 17.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 56515 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
5 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. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 56515 in November 2024, up by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 52 Days | +166.3% |
Summary: Homes in 56515 had an average of 52 days on market in Nov 2024, up by 166.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56515 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in 56515; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
