Is 55057, 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, 55057 has remained a Seller's Market.
Housing Prices in 55057, MN
How much do homes in 55057, MN cost?
Median Sold Price
$356,666
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55057 was $356,666 in March 2024, up 4.5% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135.7K | $232.5K | +71.3% |
2 Bedrooms | $271.9K | $246.4K | -9.4% |
3 Bedrooms | $305K | $340K | +11.5% |
4 Bedrooms | $400K | $404K | +1.0% |
5+ Bedrooms | $429.9K | $465K | +8.2% |
Summary: 55057 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 71.3%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Zip Codes
55019 | $350K | $432.7K | +23.6% |
55057 | $341.1K | $356.6K | +4.5% |
Housing Supply in 55057, MN
How many homes are available in 55057, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 67 | +8.1% |
Summary: The 55057 real estate market had 67 homes for sale in March 2024, a 8.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 15 | 15 | 0.0% |
3 Bedrooms | 21 | 18 | -14.3% |
4 Bedrooms | 13 | 18 | +38.5% |
5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The 55057 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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 16 | +77.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 55057 in March 2024, up by 77.8% month-over-month. Of the 16 sold homes, 56% were sold under asking, 25% were sold at asking, and 19% were sold over asking.
Days on Market for 55057, MN
How long does it take to sell a home in 55057, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 27 Days | -34.0% |
Summary: Homes in 55057 had an average of 27 days on market in Mar 2024, down by 34% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 55057; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.