Is 55077, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55077 was a Seller's Market.
Key Takeaway
55077 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55077, MN
How much do homes in 55077, MN cost?
Median Sold Price
$570,000
$200/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in 55077 has remained the same since last year.
Summary: The median home sold price in 55077 was $570,000 in March 2024, the same as last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $195K | N/A |
| 2 Bedrooms | $350K | $238K | -32.0% |
| 3 Bedrooms | $386.4K | $440K | +13.9% |
| 4 Bedrooms | $550K | $670K | +21.8% |
| 5+ Bedrooms | $800K | $684.9K | -14.4% |
Summary: 55077 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 32%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes decreased by 14.4%.
Housing Supply in 55077, MN
How many homes are available in 55077, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 53 | +6.0% |
Summary: The 55077 real estate market had 53 homes for sale in March 2024, a 6.0% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The 55077 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55077, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 55077 in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for 55077, MN
How long does it take to sell a home in 55077, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 36 Days | -25.5% |
Summary: Homes in 55077 had an average of 36 days on market in Mar 2024, down by 25.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55077 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 55077; 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.
