Is 55082, 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, 55082 has remained a Seller's Market.
Key Takeaway
55082 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55082, MN
How much do homes in 55082, MN cost?
Median Sold Price
$420,810
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55082 have sold for 15.8% less than they did a year ago.
Summary: The median home sold price in 55082 was $420,810 in March 2024, down 15.8% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $410K | -1.2% |
| 2 Bedrooms | $330K | $308.9K | -6.4% |
| 3 Bedrooms | $409K | $375K | -8.3% |
| 4 Bedrooms | $616.7K | $558.5K | -9.4% |
| 5+ Bedrooms | $840K | $800K | -4.8% |
Summary: 55082 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes decreased by 4.8%.
Housing Supply in 55082, MN
How many homes are available in 55082, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 112 | 105 | -6.3% |
Summary: The 55082 real estate market had 105 homes for sale in March 2024, a 6.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 19 | 18 | -5.3% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 42 | 38 | -9.5% |
| 5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The 55082 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 decreased by 5.3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 26 | -3.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55082, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 55082 in March 2024, down by 3.7% month-over-month. Of the 26 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for 55082, MN
How long does it take to sell a home in 55082, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 56 Days | +49.7% |
Summary: Homes in 55082 had an average of 56 days on market in Mar 2024, up by 49.7% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55082 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 26 homes were sold in 55082; 54% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
