Is 55055, 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, 55055 has remained a Seller's Market.
Key Takeaway
55055 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55055, MN
How much do homes in 55055, MN cost?
Median Sold Price
$349,900
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55055 have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in 55055 was $349,900 in April 2024, down 0.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $349.5K | $410K | +17.3% |
| 3 Bedrooms | $360K | $312.5K | -13.2% |
| 4 Bedrooms | $323.5K | $360K | +11.3% |
| 5+ Bedrooms | $475K | $550K | +15.8% |
Summary: 55055 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.3%, 3 bedroom homes decreased by 13.2%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 15.8%.
Housing Supply in 55055, MN
How many homes are available in 55055, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The 55055 real estate market had 8 homes for sale in April 2024, a 11.1% decrease 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 | 2 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55055 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
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 55055, 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 55055 in April 2024, up by 33.3% 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 55055, MN
How long does it take to sell a home in 55055, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 7 Days | 28 Days | +273.3% |
Summary: Homes in 55055 had an average of 28 days on market in Apr 2024, up by 273.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55055 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 55055; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
