$1,780 Closing Credit*
$149,900
1,525 SqFt
3 Beds
•1 Full Bath
Listing Office: Wagner Realty
Is 56531, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56531 has remained a Seller's Market.
Key Takeaway
56531 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56531, MN
How much do homes in 56531, MN cost?
Median Sold Price
$159,900
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,900(+10.3%)
Key Takeaway
Homes in 56531 have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in 56531 was $159,900 in October 2024, up 10.3% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $53.5K | - | N/A |
| 2 Bedrooms | $101.5K | $145K | +42.9% |
| 3 Bedrooms | $163.4K | $165.4K | +1.2% |
| 4 Bedrooms | $185.7K | $200K | +7.7% |
| 5+ Bedrooms | $130K | $212K | +63.1% |
Summary: 56531 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 42.9%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 63.1%.
Median Sold Price Compared To Nearby Zip Codes
| 56309 | $195.4K | $310K | +58.6% |
| 56531 | $145K | $159.9K | +10.3% |
Housing Supply in 56531, MN
How many homes are available in 56531, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Summary: The 56531 real estate market had 7 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 56531 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 100%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56531, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 56531 in October 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56531, MN
How long does it take to sell a home in 56531, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 62 Days | +95.3% |
Summary: Homes in 56531 had an average of 62 days on market in Oct 2024, up by 95.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56531 has remained consistent over time.
Summary: During October 2024, 2 homes were sold in 56531; 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.
