$3,741 Closing Credit*
$315,000
1,800 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Grimes Realty
Is 56601, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 56601 has remained a Seller's Market.
Key Takeaway
56601 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56601, MN
How much do homes in 56601, MN cost?
Median Sold Price
$287,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,500(+8.5%)
Key Takeaway
Homes in 56601 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 56601 was $287,000 in October 2024, up 8.5% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.9K | $80K | -45.9% |
| 2 Bedrooms | $215K | $220K | +2.3% |
| 3 Bedrooms | $253.4K | $295K | +16.4% |
| 4 Bedrooms | $330K | $316.9K | -4.0% |
| 5+ Bedrooms | $422.5K | $322.7K | -23.6% |
Summary: 56601 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.9%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 16.4%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 23.6%.
Housing Supply in 56601, MN
How many homes are available in 56601, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 217 | 213 | -1.8% |
Summary: The 56601 real estate market had 213 homes for sale in October 2024, a 1.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 16 | 0.0% |
| 2 Bedrooms | 64 | 70 | +9.4% |
| 3 Bedrooms | 79 | 67 | -15.2% |
| 4 Bedrooms | 44 | 49 | +11.4% |
| 5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The 56601 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 9.4%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 40 | +17.6% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56601, you may be able to get a good deal. 52.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in 56601 in October 2024, up by 17.6% month-over-month. Of the 40 sold homes, 53% were sold under asking, 25% were sold at asking, and 23% were sold over asking.
Days on Market for 56601, MN
How long does it take to sell a home in 56601, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 58 Days | -4.5% |
Summary: Homes in 56601 had an average of 58 days on market in Oct 2024, down by 4.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56601 has remained consistent over time.
Summary: During October 2024, 40 homes were sold in 56601; 35% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
