Is 55075, 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, 55075 has remained a Seller's Market.
Key Takeaway
55075 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55075, MN
How much do homes in 55075, MN cost?
Median Sold Price
$285,166
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55075 have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in 55075 was $285,166 in March 2024, up 1.8% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $85K | -50.0% |
| 2 Bedrooms | $236.9K | $237.5K | 0.3% |
| 3 Bedrooms | $277K | $290K | +4.7% |
| 4 Bedrooms | $314K | $332.5K | +5.9% |
| 5+ Bedrooms | $353.5K | $322.5K | -8.8% |
Summary: 55075 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 55075, MN
How many homes are available in 55075, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 42 | +10.5% |
Summary: The 55075 real estate market had 42 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 55075 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 increased by 28.6%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55075, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 55075 in March 2024, up by 36.4% month-over-month. Of the 15 sold homes, 20% were sold under asking, 27% were sold at asking, and 53% were sold over asking.
Days on Market for 55075, MN
How long does it take to sell a home in 55075, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 18 Days | -52.0% |
Summary: Homes in 55075 had an average of 18 days on market in Mar 2024, down by 52% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55075 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 55075; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
