$4,453 Closing Credit*
$375,000
1,680 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Counselor Realty Detroit Lakes
Is 56521, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, 56521 was a Seller's Market.
Key Takeaway
56521 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 56521, MN
How much do homes in 56521, MN cost?
Median Sold Price
$132,000
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$126,000(-48.8%)
Key Takeaway
Homes in 56521 have sold for 48.8% less than they did a year ago.
Summary: The median home sold price in 56521 was $132,000 in December 2024, down 48.8% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165K | $81.9K | -50.3% |
| 3 Bedrooms | $312K | $215K | -31.1% |
| 4 Bedrooms | $350K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 56521 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 50.3%, 3 bedroom homes decreased by 31.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56501 | $321K | $369.9K | +15.2% |
| 56521 | $258K | $132K | -48.8% |
Housing Supply in 56521, MN
How many homes are available in 56521, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Summary: The 56521 real estate market had 6 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56521 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56521, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 56521 in December 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56521, MN
How long does it take to sell a home in 56521, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 73 Days | 70 Days | -4.1% |
Summary: Homes in 56521 had an average of 70 days on market in Dec 2024, down by 4.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56521 has remained consistent over time.
Summary: During December 2024, 1 homes were sold in 56521; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
