$6,056 Closing Credit*
$510,000
3,452 SqFt
5 Beds
•3 Full Baths
Listing Office: Park Co., REALTORS®
Is 56560, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, 56560 was a Seller's Market.
Key Takeaway
56560 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56560, MN
How much do homes in 56560, MN cost?
Median Sold Price
$265,681
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$5,681(+2.2%)
Key Takeaway
Homes in 56560 have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in 56560 was $265,681 in December 2024, up 2.2% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94.9K | $115K | +21.2% |
| 2 Bedrooms | $199.9K | $195K | -2.5% |
| 3 Bedrooms | $245K | $249.9K | +2.0% |
| 4 Bedrooms | $297.2K | $320.1K | +7.7% |
| 5+ Bedrooms | $319.9K | $415K | +29.7% |
Summary: 56560 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 29.7%.
Housing Supply in 56560, MN
How many homes are available in 56560, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 339 | 302 | -10.9% |
Summary: The 56560 real estate market had 302 homes for sale in December 2024, a 10.9% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 46 | 36 | -21.7% |
| 3 Bedrooms | 125 | 120 | -4.0% |
| 4 Bedrooms | 124 | 109 | -12.1% |
| 5+ Bedrooms | 40 | 33 | -17.5% |
Summary: The 56560 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 21.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes decreased by 17.5%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 64 | 26 | -59.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56560, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 56560 in December 2024, down by 59.4% month-over-month. Of the 26 sold homes, 50% were sold under asking, 38% were sold at asking, and 12% were sold over asking.
Days on Market for 56560, MN
How long does it take to sell a home in 56560, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 126 Days | 47 Days | -62.6% |
Summary: Homes in 56560 had an average of 47 days on market in Dec 2024, down by 62.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56560 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 26 homes were sold in 56560; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
