Is 55044, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 55044 has remained a Seller's Market.
Key Takeaway
55044 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55044, MN
How much do homes in 55044, MN cost?
Median Sold Price
$498,856
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55044 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 55044 was $498,856 in March 2024, up 1.5% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $339.4K | $347.5K | +2.4% |
| 3 Bedrooms | $400K | $413.7K | +3.4% |
| 4 Bedrooms | $508.2K | $524.4K | +3.2% |
| 5+ Bedrooms | $643K | $633.4K | -1.5% |
Summary: 55044 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in 55044, MN
How many homes are available in 55044, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 280 | 321 | +14.6% |
Summary: The 55044 real estate market had 321 homes for sale in March 2024, a 14.6% 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 | 28 | -3.4% |
| 3 Bedrooms | 81 | 106 | +30.9% |
| 4 Bedrooms | 107 | 114 | +6.5% |
| 5+ Bedrooms | 63 | 73 | +15.9% |
Summary: The 55044 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 decreased by 3.4%, 3 bedroom homes increased by 30.9%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 15.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 83 | +76.6% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55044, you may be able to get a good deal. 47% of homes here sold below asking price last month.
Summary: A total of 83 homes were sold or pending in 55044 in March 2024, up by 76.6% month-over-month. Of the 83 sold homes, 47% were sold under asking, 24% were sold at asking, and 29% were sold over asking.
Days on Market for 55044, MN
How long does it take to sell a home in 55044, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 36 Days | -11.4% |
Summary: Homes in 55044 had an average of 36 days on market in Mar 2024, down by 11.4% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55044 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 83 homes were sold in 55044; 66% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
