Is 55025, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55025 was a Seller's Market.
Key Takeaway
55025 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55025, MN
How much do homes in 55025, MN cost?
Median Sold Price
$380,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55025 have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in 55025 was $380,000 in March 2024, down 4.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $218.7K | $130K | -40.6% |
| 2 Bedrooms | $312K | $297K | -4.8% |
| 3 Bedrooms | $355K | $370K | +4.2% |
| 4 Bedrooms | $455K | $419K | -7.9% |
| 5+ Bedrooms | $476K | $530K | +11.3% |
Summary: 55025 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40.6%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 11.3%.
Housing Supply in 55025, MN
How many homes are available in 55025, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 105 | 111 | +5.7% |
Summary: The 55025 real estate market had 111 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 29 | 31 | +6.9% |
| 3 Bedrooms | 42 | 48 | +14.3% |
| 4 Bedrooms | 27 | 25 | -7.4% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 55025 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 14 | -36.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55025, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55025 in March 2024, down by 36.4% month-over-month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for 55025, MN
How long does it take to sell a home in 55025, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 72 Days | +18.7% |
Summary: Homes in 55025 had an average of 72 days on market in Mar 2024, up by 18.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55025 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in 55025; 64% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
