Is 55041, 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, 55041 has remained a Seller's Market.
Key Takeaway
55041 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55041, MN
How much do homes in 55041, MN cost?
Median Sold Price
$306,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55041 have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in 55041 was $306,000 in April 2024, up 6.3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266K | $270K | +1.5% |
| 2 Bedrooms | $272.4K | $288.9K | +6.1% |
| 3 Bedrooms | $260K | $275K | +5.8% |
| 4 Bedrooms | $362.5K | $375K | +3.4% |
| 5+ Bedrooms | $405K | $295K | -27.2% |
Summary: 55041 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 27.2%.
Housing Supply in 55041, MN
How many homes are available in 55041, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The 55041 real estate market had 21 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 55041 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
6 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 55041, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 55041 in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for 55041, MN
How long does it take to sell a home in 55041, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 38 Days | -27.0% |
Summary: Homes in 55041 had an average of 38 days on market in Apr 2024, down by 27% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55041 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 55041; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
