$79,900
Land
Listing Office: Amicus Real Estate
Is 56662, 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, 56662 has remained a Seller's Market.
Key Takeaway
56662 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56662, MN
How much do homes in 56662, MN cost?
Median Sold Price
$372,450
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$107,450(-22.4%)
Key Takeaway
Homes in 56662 have sold for 22.4% less than they did a year ago.
Summary: The median home sold price in 56662 was $372,450 in October 2024, down 22.4% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190.5K | $249.9K | +31.2% |
| 2 Bedrooms | $385K | $395K | +2.6% |
| 3 Bedrooms | $539.9K | $480K | -11.1% |
| 4 Bedrooms | $1.4M | $321K | -77.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: 56662 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 77.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 56672 | $311K | $349.7K | +12.5% |
| 56447 | $340K | $363.7K | +7.0% |
| 56662 | $479.9K | $372.4K | -22.4% |
Housing Supply in 56662, MN
How many homes are available in 56662, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Summary: The 56662 real estate market had 8 homes for sale in October 2024, a 20.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 56662 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 28.6%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 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 56662, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 56662 in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 56662, MN
How long does it take to sell a home in 56662, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 32 Days | +103.2% |
Summary: Homes in 56662 had an average of 32 days on market in Oct 2024, up by 103.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56662 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 56662; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
