Is 55024, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 55024 was a Seller's Market.
Housing Prices in 55024, MN
How much do homes in 55024, MN cost?
Median Sold Price
$400,582
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 55024 was $400,582 in February 2024, up 5.3% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $204.5K | $166K | -18.8% |
2 Bedrooms | $250K | $275.5K | +10.2% |
3 Bedrooms | $345K | $375K | +8.7% |
4 Bedrooms | $430K | $440.2K | +2.4% |
5+ Bedrooms | $509.7K | $507.4K | -0.4% |
Summary: 55024 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.8%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 0.4%.
Housing Supply in 55024, MN
How many homes are available in 55024, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
193 | 225 | +16.6% |
Summary: The 55024 real estate market had 225 homes for sale in February 2024, a 16.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 35 | 35 | 0.0% |
3 Bedrooms | 78 | 89 | +14.1% |
4 Bedrooms | 47 | 57 | +21.3% |
5+ Bedrooms | 33 | 44 | +33.3% |
Summary: The 55024 housing inventory by bedroom type for February 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 14.1%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
30 | 32 | +6.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in 55024 in February 2024, up by 6.7% month-over-month. Of the 32 sold homes, 47% were sold under asking, 28% were sold at asking, and 25% were sold over asking.
Days on Market for 55024, MN
How long does it take to sell a home in 55024, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
37 Days | 46 Days | +23.3% |
Summary: Homes in 55024 had an average of 46 days on market in Feb 2024, up by 23.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 32 homes were sold in 55024; 28% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.