Is 55106, 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, 55106 has remained a Seller's Market.
Key Takeaway
55106 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55106, MN
How much do homes in 55106, MN cost?
Median Sold Price
$254,950
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55106 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 55106 was $254,950 in March 2024, up 4.1% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.4K | $158K | +9.4% |
| 2 Bedrooms | $200K | $210K | +5.0% |
| 3 Bedrooms | $249.6K | $257.9K | +3.4% |
| 4 Bedrooms | $265K | $282.5K | +6.6% |
| 5+ Bedrooms | $302.5K | $287K | -5.1% |
Summary: 55106 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 5.1%.
Housing Supply in 55106, MN
How many homes are available in 55106, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 124 | 132 | +6.5% |
Summary: The 55106 real estate market had 132 homes for sale in March 2024, a 6.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 21 | 28 | +33.3% |
| 3 Bedrooms | 73 | 76 | +4.1% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 55106 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 45 | +45.2% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55106, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in 55106 in March 2024, up by 45.2% month-over-month. Of the 45 sold homes, 47% were sold under asking, 7% were sold at asking, and 47% were sold over asking.
Days on Market for 55106, MN
How long does it take to sell a home in 55106, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 34 Days | -18.0% |
Summary: Homes in 55106 had an average of 34 days on market in Mar 2024, down by 18% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55106 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 45 homes were sold in 55106; 56% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
