$2,018 Closing Credit*
$169,900
1,824 SqFt
2 Beds
•1 Full Bath
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 October 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
$168,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$7,000(-4.0%)
Key Takeaway
Homes in 56716 have sold for 4% less than they did a year ago.
Summary: The median home sold price in 56716 was $168,000 in October 2024, down 4% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.7K | - | N/A |
| 2 Bedrooms | $103.5K | $120.2K | +16.1% |
| 3 Bedrooms | $175K | $168K | -4.0% |
| 4 Bedrooms | $248.9K | $182K | -26.9% |
| 5+ Bedrooms | $203.5K | $479K | +135.4% |
Summary: 56716 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 16.1%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 26.9%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Summary: The 56716 real estate market had 30 homes for sale in October 2024, a 11.1% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 56716 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
4 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 56716, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 56716 in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 102 Days | +57.7% |
Summary: Homes in 56716 had an average of 102 days on market in Oct 2024, up by 57.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 October 2024, 6 homes were sold in 56716; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
