56531, MN Housing Market

The 56531 housing market is somewhat competitive. The median sale price of a home in 56531 was $115K last month, down 44.6% since last year. The median sale price per square foot in 56531 is $101, down 99.91% since last year.

Trends
Demand
Schools
Climate

56531 Housing Market Trends

What is the housing market like in 56531 today?

$115K

Sale Price

-44.6%
since last year

$101

Sale $/Sq. Ft.

-99.91%
since last year

Under List Price

4.4%

Days on Market

Down Payment

—

Total Homes Sold

To compare other locations to the 56531 and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Minnesota add value to a home.

How hot is the 56531 housing market?

56531 is somewhat competitive. Homes sell in 53 days.

100

Somewhat Competitive

Some homes get multiple offers.
The average homes sell for about 4% below list price and go pending in around 53 days.
Hot homes
can sell for about 1% below list price and go pending in around 17 days.

Compare With Nearby Zip codes

56308

100

Somewhat Competitive

Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 67 days.
Hot homes
can sell for around list price and go pending in around 29 days.

56586

100

Very Competitive

Many homes get multiple offers, some with waived contingencies.
The average homes sell for about 3% below list price and go pending in around 35 days.
Hot homes
can sell for around list price and go pending in around 16 days.

See more nearby cities and neighborhoods

View houses in 56531 that sold recently

Recently sold homes

SOLD FEB 26, 2025
$114,900 Last Sold Price
3 beds
1 bath
—sq ft
232 1st Ave NW, Elbow Lake, MN 56531
List Price
$124,900
Sale to List
8% under list
Days on Market
65 days
232 1st Ave NW, Elbow Lake, MN 56531
SOLD JAN 13, 2025
$60,119
—beds
—baths
888 sq ft
122 2nd St NW, Elbow Lake, MN 56531
List Price
—
Sale to List
—
Days on Market
—
122 2nd St NW, Elbow Lake, MN 56531
SOLD DEC 12, 2024
$80,000
—beds
—baths
957 sq ft
234 W Division St, Elbow Lake, MN 56531
List Price
—
Sale to List
—
Days on Market
—
234 W Division St, Elbow Lake, MN 56531
SOLD DEC 10, 2024
$55,500 Last Sold Price
3 beds
2 baths
—sq ft
26 10th Ave NE, Elbow Lake, MN 56531
List Price
$65,000
Sale to List
15% under list
Days on Market
41 days
26 10th Ave NE, Elbow Lake, MN 56531
SOLD DEC 3, 2024
$60,000
—beds
—baths
576 sq ft
17 2nd Ave NE, Elbow Lake, MN 56531
List Price
—
Sale to List
—
Days on Market
—
17 2nd Ave NE, Elbow Lake, MN 56531
SOLD NOV 7, 2024
$210,000 Last Sold Price
4 beds
2 baths
—sq ft
322 10th Ave SE, Elbow Lake, MN 56531
List Price
$219,900
Sale to List
5% under list
Days on Market
98 days
322 10th Ave SE, Elbow Lake, MN 56531
SOLD NOV 1, 2024
$260,000 Last Sold Price
6 beds
2 baths
—sq ft
14881 Golf Course Rd, Ashby, MN 56309
List Price
$289,900
Sale to List
10% under list
Days on Market
142 days
14881 Golf Course Rd, Ashby, MN 56309
SOLD OCT 31, 2024
$37,500 Last Sold Price
—beds
—baths
—sq ft
Lot 2 Golf Course Rd, Elbow Lake, MN 56531
List Price
$43,000
Sale to List
13% under list
Days on Market
178 days
Lot 2 Golf Course Rd, Elbow Lake, MN 56531
See all recently sold homes in 56531.
See listings

Schools in 56531

Learn about schools in the 56531 area

Elementary
Middle
High

GreatSchools Rating

6/10 West Central Area N. Elementary School Public • PreK-4	184 Students	1 reviews
6/10 Wca Middle School Public • 5-8	227 Students	N/A
4/10 Ashby Elementary School Public • PreK-6	185 Students	N/A
NR West Central Schools Extended Year Public • K-12	- Students	N/A

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.

Climate's impact on 56531 housing

Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in 56531.

Wind Factor - Minor

100% of properties are at minor risk of a severe wind event over the next 30 years

Heat Factor - Minimal

69% of properties are at minimal risk of heat over the next 30 years

Provided by First Street Foundation

More real estate resources for 56531

New Listings in 56531

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