$2,963 Closing Credit*
$249,500
2,751 SqFt
4 Beds
•2 Full Baths
Listing Office: USA Realty
Is 56701, 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, 56701 has remained a Seller's Market.
Key Takeaway
56701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56701, MN
How much do homes in 56701, MN cost?
Median Sold Price
$174,900
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,900(+2.9%)
Key Takeaway
Homes in 56701 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 56701 was $174,900 in October 2024, up 2.9% 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 | - | $84.3K | N/A |
| 2 Bedrooms | $139.7K | $149K | +6.6% |
| 3 Bedrooms | $170K | $183.5K | +7.9% |
| 4 Bedrooms | $233.5K | $230.3K | -1.4% |
| 5+ Bedrooms | $277.5K | $285K | +2.7% |
Summary: 56701 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 2.7%.
Housing Supply in 56701, MN
How many homes are available in 56701, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 73 | +5.8% |
Summary: The 56701 real estate market had 73 homes for sale in October 2024, a 5.8% increase 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 | 17 | 19 | +11.8% |
| 3 Bedrooms | 29 | 30 | +3.4% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 56701 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 11.8%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 14 | +133.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 56701, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 56701 in October 2024, up by 133.3% month-over-month. Of the 14 sold homes, 57% were sold under asking, 36% were sold at asking, and 7% were sold over asking.
Days on Market for 56701, MN
How long does it take to sell a home in 56701, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 37 Days | +3.6% |
Summary: Homes in 56701 had an average of 37 days on market in Oct 2024, up by 3.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 56701 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 56701; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
