$1,948 Closing Credit*
$164,000
1,440 SqFt
2 Beds
•2 Full Baths
Listing Office: Island View Realty
Is 56649, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $120K | -14.3% |
| 2 Bedrooms | $103K | $149.9K | +45.5% |
| 3 Bedrooms | $135.5K | $141K | +4.1% |
| 4 Bedrooms | $172.5K | $217.5K | +26.1% |
| 5+ Bedrooms | $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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 43 | -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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 19 | 15 | -21.1% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 73 Days | 41 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
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.
