Is 56549, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56549 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 56549 has remained a Seller's Market.

Key Takeaway

56549 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56549, MN

How much do homes in 56549, MN cost?

Median Sold Price

$325,000

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,000(+6.6%)

Key Takeaway

Homes in 56549 have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in 56549 was $325,000 in October 2024, up 6.6% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $170K$141K
-17.1%
3 $231K$299.9K
+29.8%
4 $375K$357.5K
-4.7%
5+ $480K$495.9K
+3.3%

Summary: 56549 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 decreased by 17.1%, 3 bedroom homes increased by 29.8%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Zip Codes

56554
+72.3%
56549
+6.6%
56547
-24.4%

Housing Supply in 56549, MN

How many homes are available in 56549, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4437-15.9%

Summary: The 56549 real estate market had 37 homes for sale in October 2024, a 15.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 12
+100.0%
3 910
+11.1%
4 2114
-33.3%
5+ 119
-18.2%

Summary: The 56549 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 increased by 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
107-30.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56549, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 56549 in October 2024, down by 30.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for 56549, MN

How long does it take to sell a home in 56549, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
68 Days73 Days+7.7%

Summary: Homes in 56549 had an average of 73 days on market in Oct 2024, up by 7.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56549 has remained consistent over time.

Summary: During October 2024, 7 homes were sold in 56549; 14% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 56549, MN

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