Is 55103, 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, 55103 has remained a Seller's Market.
Key Takeaway
55103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55103, MN
How much do homes in 55103, MN cost?
Median Sold Price
$255,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55103 have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in 55103 was $255,000 in March 2024, up 13.3% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $153.7K | $110K | -28.5% |
| 2 Bedrooms | $203K | $170K | -16.3% |
| 3 Bedrooms | $225K | $260.5K | +15.8% |
| 4 Bedrooms | $255K | $292.4K | +14.7% |
| 5+ Bedrooms | $277.5K | $270K | -2.7% |
Summary: 55103 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.5%, 2 bedroom homes decreased by 16.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes decreased by 2.7%.
Housing Supply in 55103, MN
How many homes are available in 55103, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 29 | -6.5% |
Summary: The 55103 real estate market had 29 homes for sale in March 2024, a 6.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 55103 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55103, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 55103 in March 2024, down by 37.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 55103, MN
How long does it take to sell a home in 55103, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 22 Days | -34.2% |
Summary: Homes in 55103 had an average of 22 days on market in Mar 2024, down by 34.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55103 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in 55103; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
