$7,112 Closing Credit*
$598,900
2,985 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Counselor Realty Detroit Lakes
Is 56544, 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, 56544 has remained a Seller's Market.
Key Takeaway
56544 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56544, MN
How much do homes in 56544, MN cost?
Median Sold Price
$341,950
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$57,950(+20.4%)
Key Takeaway
Homes in 56544 have sold for 20.4% more than they did a year ago.
Summary: The median home sold price in 56544 was $341,950 in October 2024, up 20.4% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.5K | $102.5K | -22.6% |
| 2 Bedrooms | $205K | $302.7K | +47.7% |
| 3 Bedrooms | $280K | $315K | +12.5% |
| 4 Bedrooms | $327K | $547K | +67.3% |
| 5+ Bedrooms | $483K | $1.5M | +231.1% |
Summary: 56544 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.6%, 2 bedroom homes increased by 47.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 67.3%, and 5+ bedroom homes increased by 231.1%.
Housing Supply in 56544, MN
How many homes are available in 56544, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Summary: The 56544 real estate market had 22 homes for sale in October 2024, a 15.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 56544 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56544, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 56544 in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 56544, MN
How long does it take to sell a home in 56544, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 69 Days | 45 Days | -34.3% |
Summary: Homes in 56544 had an average of 45 days on market in Oct 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56544 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 56544; 50% 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.
