Is 55011, 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, 55011 has remained a Seller's Market.
Key Takeaway
55011 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55011, MN
How much do homes in 55011, MN cost?
Median Sold Price
$430,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55011 have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in 55011 was $430,000 in April 2024, down 4.4% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $358K | $326.2K | -8.9% |
| 3 Bedrooms | $400K | $397.9K | -0.5% |
| 4 Bedrooms | $470K | $450K | -4.3% |
| 5+ Bedrooms | $500K | $473.2K | -5.3% |
Summary: 55011 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 8.9%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 5.3%.
Housing Supply in 55011, MN
How many homes are available in 55011, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 48 | +41.2% |
Summary: The 55011 real estate market had 48 homes for sale in April 2024, a 41.2% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 12 | 19 | +58.3% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 55011 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 remained the same, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 11 | +450.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55011, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 55011 in April 2024, up by 450.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 9% were sold at asking, and 73% were sold over asking.
Days on Market for 55011, MN
How long does it take to sell a home in 55011, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 47 Days | -21.9% |
Summary: Homes in 55011 had an average of 47 days on market in Apr 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55011 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in 55011; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
