Is 55102, 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, 55102 has remained a Seller's Market.
Key Takeaway
55102 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55102, MN
How much do homes in 55102, MN cost?
Median Sold Price
$285,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55102 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 55102 was $285,000 in March 2024, up 3.4% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.5K | $160K | -16.4% |
| 2 Bedrooms | $270K | $278K | +3.0% |
| 3 Bedrooms | $290K | $327.2K | +12.8% |
| 4 Bedrooms | $361K | $356.2K | -1.3% |
| 5+ Bedrooms | $857K | $770K | -10.2% |
Summary: 55102 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.4%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 10.2%.
Housing Supply in 55102, MN
How many homes are available in 55102, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 81 | +11.0% |
Summary: The 55102 real estate market had 81 homes for sale in March 2024, a 11.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 23 | +9.5% |
| 2 Bedrooms | 26 | 31 | +19.2% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 55102 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 19.2%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55102, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55102 in March 2024, up by 41.2% month-over-month. Of the 24 sold homes, 42% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 55102, MN
How long does it take to sell a home in 55102, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 65 Days | +9.5% |
Summary: Homes in 55102 had an average of 65 days on market in Mar 2024, up by 9.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55102 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in 55102; 42% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
