$3,205 Closing Credit*
$269,900
2,016 SqFt
4 Beds
•2 Full Baths
Listing Office: Realty Experts, LLC
Is 56601, 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, 56601 was a Seller's Market.
Key Takeaway
56601 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 56601, MN
How much do homes in 56601, MN cost?
Median Sold Price
$289,633
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,633(+9.7%)
Key Takeaway
Homes in 56601 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 56601 was $289,633 in November 2024, up 9.7% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124.5K | $85K | -31.7% |
| 2 Bedrooms | $215K | $227.5K | +5.8% |
| 3 Bedrooms | $257.9K | $284.6K | +10.4% |
| 4 Bedrooms | $330K | $323K | -2.1% |
| 5+ Bedrooms | $407K | $327.4K | -19.6% |
Summary: 56601 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.7%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 19.6%.
Median Sold Price Compared To Nearby Zip Codes
| 56601 | $264K | $289.6K | +9.7% |
| 56633 | $299.5K | $227K | -24.2% |
Housing Supply in 56601, MN
How many homes are available in 56601, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 203 | 181 | -10.8% |
Summary: The 56601 real estate market had 181 homes for sale in November 2024, a 10.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 15 | -6.3% |
| 2 Bedrooms | 68 | 62 | -8.8% |
| 3 Bedrooms | 62 | 58 | -6.5% |
| 4 Bedrooms | 48 | 40 | -16.7% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The 56601 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.3%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 | 19 | -55.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56601, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 56601 in November 2024, down by 55.8% month-over-month. Of the 19 sold homes, 63% were sold under asking, 21% were sold at asking, and 16% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 51 Days | 65 Days | +26.4% |
Summary: Homes in 56601 had an average of 65 days on market in Nov 2024, up by 26.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 56601 has remained consistent over time.
Summary: During November 2024, 19 homes were sold in 56601; 37% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
