Is 56649, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 56649 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 56649 has remained a Seller's Market.

Key Takeaway

56649 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 56649, MN

How much do homes in 56649, MN cost?

Median Sold Price

$152,450

$113/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,550(+9.0%)

Key Takeaway

Homes in 56649 have sold for 9% more than they did a year ago.

Summary: The median home sold price in 56649 was $152,450 in October 2024, up 9% from last year, and the median price per square foot was $113.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140K$120K
-14.3%
2 $103K$149.9K
+45.5%
3 $135.5K$141K
+4.1%
4 $172.5K$217.5K
+26.1%
5+ $177K$350K
+97.7%

Summary: 56649 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 97.7%.

Housing Supply in 56649, MN

How many homes are available in 56649, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4443-2.3%

Summary: The 56649 real estate market had 43 homes for sale in October 2024, a 2.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 1915
-21.1%
3 1921
+10.5%
4 55
0.0%
5+ 00
0.0%

Summary: The 56649 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 21.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
129-25.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 56649, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 56649 in October 2024, down by 25.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for 56649, MN

How long does it take to sell a home in 56649, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
73 Days41 Days-44.3%

Summary: Homes in 56649 had an average of 41 days on market in Oct 2024, down by 44.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 56649 has remained consistent over time.

Summary: During October 2024, 9 homes were sold in 56649; 33% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 11% 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 56649, MN

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