$112,500
Land
Listing Office: New Horizons Realty Of Perham
Is 56573, 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, 56573 was a Neutral Market.
Key Takeaway
56573 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56573, MN
How much do homes in 56573, MN cost?
Median Sold Price
$345,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+4.5%)
Key Takeaway
Homes in 56573 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 56573 was $345,000 in November 2024, up 4.5% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $232.5K | $69.5K | -70.1% |
| 2 Bedrooms | $289.9K | $240K | -17.2% |
| 3 Bedrooms | $280K | $345K | +23.2% |
| 4 Bedrooms | $350K | $375K | +7.1% |
| 5+ Bedrooms | $509K | $407.5K | -19.9% |
Summary: 56573 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.1%, 2 bedroom homes decreased by 17.2%, 3 bedroom homes increased by 23.2%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 19.9%.
Housing Supply in 56573, MN
How many homes are available in 56573, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 49 | +6.5% |
Summary: The 56573 real estate market had 49 homes for sale in November 2024, a 6.5% increase 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 | 24 | 26 | +8.3% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 56573 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 increased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56573, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56573 in November 2024, up by 200.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.
Days on Market for 56573, MN
How long does it take to sell a home in 56573, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 78 Days | 103 Days | +32.9% |
Summary: Homes in 56573 had an average of 103 days on market in Nov 2024, up by 32.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56573 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in 56573; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
