$6,175 Closing Credit*
$520,000
1,824 SqFt
4 Beds
•2 Baths
Listing Office: MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Is 56636, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $63K | -59.4% |
| 2 Bedrooms | $192K | $210K | +9.4% |
| 3 Bedrooms | $276K | $331K | +19.9% |
| 4 Bedrooms | $430K | $290K | -32.6% |
| 5+ Bedrooms | $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 | $290.5K | $375K | +29.1% |
| 56636 | $245.5K | $242.5K | -1.2% |
Housing Supply in 56636, MN
How many homes are available in 56636, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 49 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
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.
