Is 55079, 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, 55079 has remained a Seller's Market.
Key Takeaway
55079 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55079, MN
How much do homes in 55079, MN cost?
Median Sold Price
$416,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55079 have sold for 4% more than they did a year ago.
Summary: The median home sold price in 55079 was $416,000 in April 2024, up 4% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $280K | +182.8% |
| 2 Bedrooms | $349.9K | $273K | -22.0% |
| 3 Bedrooms | $400.9K | $394K | -1.7% |
| 4 Bedrooms | $464K | $425K | -8.4% |
| 5+ Bedrooms | $440K | $645K | +46.6% |
Summary: 55079 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 182.8%, 2 bedroom homes decreased by 22%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes increased by 46.6%.
Housing Supply in 55079, MN
How many homes are available in 55079, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 40 | +25.0% |
Summary: The 55079 real estate market had 40 homes for sale in April 2024, a 25.0% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 18 | 21 | +16.7% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 55079 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 66.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
3 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 55079, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 55079 in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for 55079, MN
How long does it take to sell a home in 55079, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 88 Days | 48 Days | -44.6% |
Summary: Homes in 55079 had an average of 48 days on market in Apr 2024, down by 44.6% compared to last year.
Breakdown of Home Sale Times
3 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 55079 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 55079; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
