$19,900
Land
Listing Office: MN LAKESHORE PROPERTIES/MN UP NORTH REALTY
Is 56628, 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, 56628 has remained a Seller's Market.
Key Takeaway
56628 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56628, MN
How much do homes in 56628, MN cost?
Median Sold Price
$250,900
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$71,550(-22.2%)
Key Takeaway
Homes in 56628 have sold for 22.2% less than they did a year ago.
Summary: The median home sold price in 56628 was $250,900 in October 2024, down 22.2% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215.5K | $231.5K | +7.4% |
| 2 Bedrooms | $332.5K | $260K | -21.8% |
| 3 Bedrooms | $324.9K | $235K | -27.7% |
| 4 Bedrooms | $252.5K | $585K | +131.7% |
| 5+ Bedrooms | $399.5K | $84.9K | -78.7% |
Summary: 56628 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.4%, 2 bedroom homes decreased by 21.8%, 3 bedroom homes decreased by 27.7%, 4 bedroom homes increased by 131.7%, and 5+ bedroom homes decreased by 78.7%.
Housing Supply in 56628, MN
How many homes are available in 56628, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Summary: The 56628 real estate market had 15 homes for sale in October 2024, a 11.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56628 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 decreased by 14.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56628, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 56628 in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 56628, MN
How long does it take to sell a home in 56628, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 76 Days | 52 Days | -31.6% |
Summary: Homes in 56628 had an average of 52 days on market in Oct 2024, down by 31.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 56628 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 56628; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
