Is 55047, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 55047 was a Buyer's Market.
Key Takeaway
55047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55047, MN
How much do homes in 55047, MN cost?
Median Sold Price
$732,500
$313/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 55047 have sold for 90.3% more than they did a month ago.
Summary: The median home sold price in 55047 was $732,500 in April 2024, up 90.3% from last month, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $385K | - | N/A |
| 3 Bedrooms | - | $965K | N/A |
| 4 Bedrooms | - | $732.5K | N/A |
| 5+ Bedrooms | - | $685K | N/A |
Summary: 55047 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in 55047, MN
How many homes are available in 55047, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Summary: The 55047 real estate market had 16 homes for sale in April 2024, a 33.3% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 55047 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 decreased by 50%, 3 bedroom homes increased by 150%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55047, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55047 in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 55047, MN
How long does it take to sell a home in 55047, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 29 Days | +1375.0% |
Summary: Homes in 55047 had an average of 29 days on market in Apr 2024, up by 1375% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55047 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 55047; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
