Is 56636, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56636 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 56636 has remained a Seller's Market.

Key Takeaway

56636 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56636, MN

How much do homes in 56636, MN cost?

Median Sold Price

$242,500

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$3,000(-1.2%)

Key Takeaway

Homes in 56636 have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in 56636 was $242,500 in October 2024, down 1.2% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $155K$63K
-59.4%
2 $192K$210K
+9.4%
3 $276K$331K
+19.9%
4 $430K$290K
-32.6%
5+ $370K$620K
+67.6%

Summary: 56636 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.4%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 19.9%, 4 bedroom homes decreased by 32.6%, and 5+ bedroom homes increased by 67.6%.

Median Sold Price Compared To Nearby Zip Codes

55721
+29.1%
56636
-1.2%

Housing Supply in 56636, MN

How many homes are available in 56636, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2123+9.5%

Summary: The 56636 real estate market had 23 homes for sale in October 2024, a 9.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1011
+10.0%
3 88
0.0%
4 12
+100.0%
5+ 11
0.0%

Summary: The 56636 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 10%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
38+166.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56636, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 56636 in October 2024, up by 166.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.

Days on Market for 56636, MN

How long does it take to sell a home in 56636, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days49 Days+25.6%

Summary: Homes in 56636 had an average of 49 days on market in Oct 2024, up by 25.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 56636 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 56636; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 56636, MN

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