Is 55005, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55005 has remained a Seller's Market.
Key Takeaway
55005 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55005, MN
How much do homes in 55005, MN cost?
Median Sold Price
$409,900
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55005 have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in 55005 was $409,900 in April 2024, up 8.6% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $401K | $350K | -12.7% |
| 3 Bedrooms | $320K | $350K | +9.4% |
| 4 Bedrooms | $442K | $450K | +1.8% |
| 5+ Bedrooms | $412.5K | $456.5K | +10.7% |
Summary: 55005 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 12.7%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 10.7%.
Housing Supply in 55005, MN
How many homes are available in 55005, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Summary: The 55005 real estate market had 13 homes for sale in April 2024, a 23.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 55005 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 increased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55005, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 55005 in April 2024, down by 57.1% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 55005, MN
How long does it take to sell a home in 55005, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 6 Days | -41.5% |
Summary: Homes in 55005 had an average of 6 days on market in Apr 2024, down by 41.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55005 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 55005; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
