Is 55105, 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, 55105 has remained a Seller's Market.
Key Takeaway
55105 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55105, MN
How much do homes in 55105, MN cost?
Median Sold Price
$435,000
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55105 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 55105 was $435,000 in March 2024, up 2.1% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86.7K | $85K | -2.0% |
| 2 Bedrooms | $300K | $302.5K | +0.8% |
| 3 Bedrooms | $421K | $435K | +3.3% |
| 4 Bedrooms | $486.9K | $560K | +15.0% |
| 5+ Bedrooms | $803.2K | $775K | -3.5% |
Summary: 55105 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 3.5%.
Housing Supply in 55105, MN
How many homes are available in 55105, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 79 | +16.2% |
Summary: The 55105 real estate market had 79 homes for sale in March 2024, a 16.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 14 | 16 | +14.3% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The 55105 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55105, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 55105 in March 2024, up by 13.3% month-over-month. Of the 17 sold homes, 29% were sold under asking, 24% were sold at asking, and 47% were sold over asking.
Days on Market for 55105, MN
How long does it take to sell a home in 55105, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 53 Days | +44.7% |
Summary: Homes in 55105 had an average of 53 days on market in Mar 2024, up by 44.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55105 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in 55105; 65% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
