$4,619 Closing Credit*
$389,000
1,856 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: LeBlanc Realty
Is 56716, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 56716 has remained a Seller's Market.
Key Takeaway
56716 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 56716, MN
How much do homes in 56716, MN cost?
Median Sold Price
$182,000
$85/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,000(+4.0%)
Key Takeaway
Homes in 56716 have sold for 4% more than they did a year ago.
Summary: The median home sold price in 56716 was $182,000 in November 2024, up 4% from last year, and the median price per square foot was $85.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.7K | - | N/A |
| 2 Bedrooms | $121.7K | $107.9K | -11.4% |
| 3 Bedrooms | $182.5K | $179K | -1.9% |
| 4 Bedrooms | $255.9K | $192.5K | -24.8% |
| 5+ Bedrooms | $203.5K | $479K | +135.4% |
Summary: 56716 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 24.8%, and 5+ bedroom homes increased by 135.4%.
Housing Supply in 56716, MN
How many homes are available in 56716, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 23 | -20.7% |
Summary: The 56716 real estate market had 23 homes for sale in November 2024, a 20.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 9 | 6 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 56716 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 56716, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 56716 in November 2024, up by 50.0% month-over-month. Of the 9 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 56716, MN
How long does it take to sell a home in 56716, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 97 Days | 112 Days | +15.1% |
Summary: Homes in 56716 had an average of 112 days on market in Nov 2024, up by 15.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 56716 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 9 homes were sold in 56716; 22% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
