56750, Red Lake Falls, MN Housing Market
Hyperlocal market intelligence for ZIP code 56750 in MN. Located in Red Lake County, MN. Part of the Grand Forks, ND metro area.
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56750, Red Lake Falls, MN market data
56750, Red Lake Falls, MN Housing Market Overview
ZIP code 56750's median home value is $225K, up 15.1% over the past year. Homes here sell in a median 93 days. Its PropertyIQ Score of 62 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
PropertyIQ provides ZIP-code-level market intelligence for 56750, Red Lake Falls, MN — going deeper than metro or county averages to reveal neighborhood-specific demand dynamics. By tracking Zillow home-value momentum alongside Realtor.com market-flow signals — median days on market and the share of listings with price cuts — specifically within ZIP code 56750, PropertyIQ predicts which micro-markets within MN are positioned to outperform.
Midwestern ZIP codes frequently offer entry prices far below national medians, but performance varies dramatically even within the same city. PropertyIQ scores individual ZIP codes to identify which neighborhoods show the demand signals — fast sales, rising price momentum, few price cuts — that predict near-term appreciation. Within the Midwest, ZIP code 56750's PropertyIQ Score of 62 ranks among the Midwest's stronger demand signals.
The PropertyIQ Score for 56750, Red Lake Falls, MN is built from four inputs measured at the ZIP-code level: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all ZIP codes nationally and calibrated so 50 equals the state average, so a score above 50 points to a micro-market positioned to outperform its state. Momentum here has been positive, with home values up 15.1% over the past year.
Explore 56750, Red Lake Falls, MN's full market profile including ZIP-level score trends, home value data, and comparisons with neighboring ZIP codes. Use the interactive map to visualize demand signals across the area and identify hyperlocal investment opportunities.
56750, Red Lake Falls, MN is located in Red Lake County, MN.
This ZIP code is part of the Grand Forks, ND metro area.
Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is 56750, Red Lake Falls, MN a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. 56750, Red Lake Falls, MN currently scores 62, a firming-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $225K, up 15.1% over the past year. So whether 56750, Red Lake Falls, MN is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for 56750, Red Lake Falls, MN?
56750, Red Lake Falls, MN's PropertyIQ Score is 62, indicating firming momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 62 places 56750, Red Lake Falls, MN above its state benchmark.
Are home prices in 56750, Red Lake Falls, MN rising or falling?
Home prices in 56750, Red Lake Falls, MN are rising. Over the past year, the median home value increased 15.1%, reaching $225K. Over the latest three months, values slipped 2.8%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind 56750, Red Lake Falls, MN's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the ZIP code, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in 56750, Red Lake Falls, MN?
In 56750, Red Lake Falls, MN, homes sell in a median of 93 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 0% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this ZIP code data?
This 56750, Red Lake Falls, MN market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.