Is 55003, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55003 was a Seller's Market.
Key Takeaway
55003 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55003, MN
How much do homes in 55003, MN cost?
Median Sold Price
$385,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55003 have sold for 7.6% less than they did a year ago.
Summary: The median home sold price in 55003 was $385,000 in April 2024, down 7.6% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $240K | N/A |
| 2 Bedrooms | $322.5K | $277K | -14.1% |
| 3 Bedrooms | $340K | $385K | +13.2% |
| 4 Bedrooms | $455.5K | $505K | +10.9% |
| 5+ Bedrooms | $618K | $587.8K | -4.9% |
Summary: 55003 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 4.9%.
Housing Supply in 55003, MN
How many homes are available in 55003, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The 55003 real estate market had 11 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55003 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55003, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 55003 in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 55003, MN
How long does it take to sell a home in 55003, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 139 Days | +228.3% |
Summary: Homes in 55003 had an average of 139 days on market in Apr 2024, up by 228.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 55003 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in 55003; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
