Is 55008, 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, 55008 was a Neutral Market.
Key Takeaway
55008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55008, MN
How much do homes in 55008, MN cost?
Median Sold Price
$310,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55008 have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in 55008 was $310,000 in April 2024, up 4.4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $212.5K | +1.2% |
| 2 Bedrooms | $239.9K | $250K | +4.2% |
| 3 Bedrooms | $290K | $309.7K | +6.8% |
| 4 Bedrooms | $320.6K | $321.9K | 0.4% |
| 5+ Bedrooms | $350K | $352K | +0.6% |
Summary: 55008 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Zip Codes
| 55008 | $297K | $310K | +4.4% |
| 55040 | $335K | $330K | -1.5% |
| 55080 | $410K | $370K | -9.8% |
Housing Supply in 55008, MN
How many homes are available in 55008, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 83 | +38.3% |
Summary: The 55008 real estate market had 83 homes for sale in April 2024, a 38.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 24 | 38 | +58.3% |
| 4 Bedrooms | 23 | 26 | +13.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 55008 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55008, you could pay more than the asking price. 73.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 55008 in April 2024, down by 11.8% month-over-month. Of the 15 sold homes, 13% were sold under asking, 13% were sold at asking, and 73% were sold over asking.
Days on Market for 55008, MN
How long does it take to sell a home in 55008, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 30 Days | +330.8% |
Summary: Homes in 55008 had an average of 30 days on market in Apr 2024, up by 330.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55008 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in 55008; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
