Is 55016, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2022
At the same time last year, 55016 was a Seller's Market.
Key Takeaway
55016 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
How much do homes in 55016, MN cost?
Median Sold Price
$395,280
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2022
+$35,280(+9.8%)
Key Takeaway
Homes in 55016 have sold for 9.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Feb 2022 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | $333K | N/A |
| 2 Bedrooms | $239.9K | $257K | +7.1% |
| 3 Bedrooms | $326.8K | $370K | +13.2% |
| 4 Bedrooms | $395K | $469.5K | +18.9% |
| 5+ Bedrooms | $442K | $444.9K | +0.7% |
How many homes are available in 55016, MN?
Number of Homes For Sale
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 160 | 195 | +21.9% |
Homes For Sale By Bedroom Count
| # BEDS | Jan 2023 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 68 | 83 | +22.1% |
| 4 Bedrooms | 61 | 76 | +24.6% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Number of Homes Sold
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 24 | 28 | +16.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55016, you may be able to get a good deal. 60.7% of homes here sold below asking price last month.
Average Sale Time
| Feb 2022 | Feb 2023 | % |
|---|---|---|
| 32 Days | 29 Days | -9.7% |
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55016 are selling fast, if you're buying plan to act quickly.
