Is 55071, 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, 55071 has remained a Seller's Market.
Key Takeaway
55071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55071, MN
How much do homes in 55071, MN cost?
Median Sold Price
$314,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55071 have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in 55071 was $314,000 in April 2024, up 4.7% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181K | $195K | +7.7% |
| 2 Bedrooms | $239K | $237K | -0.8% |
| 3 Bedrooms | $288.9K | $293.5K | +1.6% |
| 4 Bedrooms | $325.5K | $341K | +4.8% |
| 5+ Bedrooms | $367.5K | $677.5K | +84.4% |
Summary: 55071 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 84.4%.
Housing Supply in 55071, MN
How many homes are available in 55071, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 22 | +10.0% |
Summary: The 55071 real estate market had 22 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 1 | 3 | +200.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 55071 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 increased by 200%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55071, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 55071 in April 2024, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 43% were sold at asking, and 43% were sold over asking.
Days on Market for 55071, MN
How long does it take to sell a home in 55071, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 2 Days | 14 Days | +518.4% |
Summary: Homes in 55071 had an average of 14 days on market in Apr 2024, up by 518.4% compared to last year.
Breakdown of Home Sale Times
5 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 55071 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 55071; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
