$1,186 Closing Credit*
$99,900
768 SqFt
1 Bed
•1 Full Bath
Listing Office: EXIT MN Lakes Realty Bemidji
Is 56621, 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, 56621 was a Seller's Market.
Key Takeaway
56621 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 56621, MN
How much do homes in 56621, MN cost?
Median Sold Price
$186,000
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$4,000(-2.1%)
Key Takeaway
Homes in 56621 have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in 56621 was $186,000 in November 2024, down 2.1% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158K | $70K | -55.7% |
| 2 Bedrooms | $170K | $187K | +10.0% |
| 3 Bedrooms | $161.5K | $171.4K | +6.2% |
| 4 Bedrooms | $228.4K | $210.2K | -8.0% |
| 5+ Bedrooms | $299.9K | $294K | -2.0% |
Summary: 56621 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Zip Codes
| 56589 | $136.5K | $258.8K | +89.7% |
| 56621 | $190K | $186K | -2.1% |
Housing Supply in 56621, MN
How many homes are available in 56621, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The 56621 real estate market had 14 homes for sale in November 2024, a 6.7% 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 | 5 | 3 | -40.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 56621 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 decreased by 40%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56621, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 56621 in November 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56621, MN
How long does it take to sell a home in 56621, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 59 Days | 13 Days | -78.1% |
Summary: Homes in 56621 had an average of 13 days on market in Nov 2024, down by 78.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56621 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in 56621; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
