$345,000
Land
Listing Office: REAL (3064 FGO)
Is 56572, 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, 56572 was a Seller's Market.
Key Takeaway
56572 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 56572, MN
How much do homes in 56572, MN cost?
Median Sold Price
$403,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$56,000(+16.1%)
Key Takeaway
Homes in 56572 have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in 56572 was $403,500 in November 2024, up 16.1% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $161.7K | $311K | +92.3% |
| 2 Bedrooms | $263K | $360K | +36.9% |
| 3 Bedrooms | $439K | $430K | -2.1% |
| 4 Bedrooms | $464K | $450K | -3.0% |
| 5+ Bedrooms | $259.9K | $140K | -46.1% |
Summary: 56572 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.3%, 2 bedroom homes increased by 36.9%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 46.1%.
Median Sold Price Compared To Nearby Zip Codes
| 56528 | $269.9K | $527.5K | +95.4% |
| 56572 | $347.5K | $403.5K | +16.1% |
| 56514 | $258K | $241.5K | -6.4% |
| 56587 | $410K | $337K | -17.8% |
Housing Supply in 56572, MN
How many homes are available in 56572, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 41 | -6.8% |
Summary: The 56572 real estate market had 41 homes for sale in November 2024, a 6.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 19 | 14 | -26.3% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 56572 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 11.1%, 3 bedroom homes decreased by 26.3%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56572, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in 56572 in November 2024, down by 25.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for 56572, MN
How long does it take to sell a home in 56572, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 46 Days | 118 Days | +153.6% |
Summary: Homes in 56572 had an average of 118 days on market in Nov 2024, up by 153.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56572 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 6 homes were sold in 56572; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
