Is 56535, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56535 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 56535 has remained a Seller's Market.

Key Takeaway

56535 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56535, MN

How much do homes in 56535, MN cost?

Median Sold Price

$105,000

$69/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$109,000(-50.9%)

Key Takeaway

Homes in 56535 have sold for 50.9% less than they did a month ago.

Summary: The median home sold price in 56535 was $105,000 in October 2024, down 50.9% from last month, and the median price per square foot was $69.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $125K-
N/A
3 $199K$105K
-47.2%
4 $249.5K-
N/A
5+ --
N/A

Summary: 56535 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 did not change, 3 bedroom homes decreased by 47.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 56535, MN

How many homes are available in 56535, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
95-44.4%

Summary: The 56535 real estate market had 5 homes for sale in October 2024, a 44.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 54
-20.0%
4 31
-66.7%
5+ 00
0.0%

Summary: The 56535 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 decreased by 20%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56535, 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 56535 in October 2024, down by 75.0% 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 56535, MN

How long does it take to sell a home in 56535, MN?

Average Sale Time

Sep 2024Oct 2024CHANGE
102 Days28 Days-72.6%

Summary: Homes in 56535 had an average of 28 days on market in Oct 2024, down by 72.6% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56535 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in 56535; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 56535, MN

Nearby Markets to 56535, MN