Is 55056, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55056 was a Seller's Market.
Housing Prices in 55056, MN
How much do homes in 55056, MN cost?
Median Sold Price
$339,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 55056 was $339,900 in April 2024, up 4.5% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $500K | N/A |
2 Bedrooms | $294.7K | $323.8K | +9.9% |
3 Bedrooms | $333.2K | $337.4K | +1.2% |
4 Bedrooms | $356.6K | $369.5K | +3.6% |
5+ Bedrooms | $378K | $415K | +9.8% |
Summary: 55056 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 9.9%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 9.8%.
Housing Supply in 55056, MN
How many homes are available in 55056, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 99 | +35.6% |
Summary: The 55056 real estate market had 99 homes for sale in April 2024, a 35.6% 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 | 15 | 13 | -13.3% |
3 Bedrooms | 43 | 57 | +32.6% |
4 Bedrooms | 11 | 23 | +109.1% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 55056 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 13.3%, 3 bedroom homes increased by 32.6%, 4 bedroom homes increased by 109.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 14 | -30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 55056 in April 2024, down by 30.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% were sold over asking.
Days on Market for 55056, MN
How long does it take to sell a home in 55056, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
47 Days | 17 Days | -63.2% |
Summary: Homes in 55056 had an average of 17 days on market in Apr 2024, down by 63.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in 55056; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.