$5,451 Closing Credit*
$459,000
2,280 SqFt
4 Beds
•2 Full Baths
Listing Office: eXp Realty (3240 WF)
Is 56547, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 56547 was a Seller's Market.
Key Takeaway
56547 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56547, MN
How much do homes in 56547, MN cost?
Median Sold Price
$285,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$65,000(-18.6%)
Key Takeaway
Homes in 56547 have sold for 18.6% less than they did a year ago.
Summary: The median home sold price in 56547 was $285,000 in November 2024, down 18.6% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | - | N/A |
| 2 Bedrooms | $335K | $206.5K | -38.4% |
| 3 Bedrooms | $300K | $342K | +14.0% |
| 4 Bedrooms | $369.9K | $285K | -23.0% |
| 5+ Bedrooms | $405K | $279.9K | -30.9% |
Summary: 56547 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.4%, 3 bedroom homes increased by 14%, 4 bedroom homes decreased by 23%, and 5+ bedroom homes decreased by 30.9%.
Median Sold Price Compared To Nearby Zip Codes
| 56529 | $232.4K | $258.5K | +11.2% |
| 56560 | $260K | $265K | +1.9% |
| 56547 | $350K | $285K | -18.6% |
Housing Supply in 56547, MN
How many homes are available in 56547, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 34 | -2.9% |
Summary: The 56547 real estate market had 34 homes for sale in November 2024, a 2.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 56547 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56547, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 56547 in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for 56547, MN
How long does it take to sell a home in 56547, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 25 Days | -35.9% |
Summary: Homes in 56547 had an average of 25 days on market in Nov 2024, down by 35.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56547 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 56547; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
