Is 55020, 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, 55020 has remained a Seller's Market.
Key Takeaway
55020 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55020, MN
How much do homes in 55020, MN cost?
Median Sold Price
$524,900
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55020 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 55020 was $524,900 in April 2024, up 6.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $275K | $332.5K | +20.9% |
| 3 Bedrooms | $415K | $490K | +18.1% |
| 4 Bedrooms | $560K | $512.4K | -8.5% |
| 5+ Bedrooms | $494.5K | $529.8K | +7.1% |
Summary: 55020 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 increased by 20.9%, 3 bedroom homes increased by 18.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in 55020, MN
How many homes are available in 55020, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The 55020 real estate market had 20 homes for sale in April 2024, a 11.1% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55020 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 remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55020, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 55020 in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 55020, MN
How long does it take to sell a home in 55020, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 3 Days | -92.7% |
Summary: Homes in 55020 had an average of 3 days on market in Apr 2024, down by 92.7% compared to last year.
Breakdown of Home Sale Times
4 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 55020 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 55020; 80% 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.
