$5,932 Closing Credit*
$499,500
1,408 SqFt
2 Beds
•1 Full Bath
Listing Office: Century 21 Atwood
Is 56571, 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, 56571 was a Seller's Market.
Key Takeaway
56571 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56571, MN
How much do homes in 56571, MN cost?
Median Sold Price
$395,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$96,000(+32.1%)
Key Takeaway
Homes in 56571 have sold for 32.1% more than they did a year ago.
Summary: The median home sold price in 56571 was $395,000 in November 2024, up 32.1% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75.5K | $205.9K | +172.8% |
| 2 Bedrooms | $240K | $379.9K | +58.3% |
| 3 Bedrooms | $299.9K | $412K | +37.4% |
| 4 Bedrooms | $677K | $631.4K | -6.7% |
| 5+ Bedrooms | $575K | $627K | +9.0% |
Summary: 56571 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 172.8%, 2 bedroom homes increased by 58.3%, 3 bedroom homes increased by 37.4%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Zip Codes
| 56571 | $299K | $395K | +32.1% |
| 56573 | $330K | $345K | +4.5% |
| 56551 | $350K | $195K | -44.3% |
| 56576 | $682.4K | $231K | -66.2% |
Housing Supply in 56571, MN
How many homes are available in 56571, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Summary: The 56571 real estate market had 28 homes for sale in November 2024, a 15.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56571 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56571, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 56571 in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 56571, MN
How long does it take to sell a home in 56571, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 82 Days | 32 Days | -60.6% |
Summary: Homes in 56571 had an average of 32 days on market in Nov 2024, down by 60.6% 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 56571 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 56571; 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.
