Is 55106, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$255,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55106 have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in 55106 was $255,000 in April 2024, up 4.3% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.4K | $158K | +9.4% |
| 2 Bedrooms | $199.9K | $210K | +5.1% |
| 3 Bedrooms | $245K | $260K | +6.1% |
| 4 Bedrooms | $265K | $280K | +5.7% |
| 5+ Bedrooms | $306K | $287K | -6.2% |
Summary: 55106 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 6.2%.
Housing Supply in 55106, MN
How many homes are available in 55106, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 127 | 128 | +0.8% |
Summary: The 55106 real estate market had 128 homes for sale in April 2024, a 0.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 27 | 30 | +11.1% |
| 3 Bedrooms | 74 | 72 | -2.7% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 55106 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 36 | -25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55106, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in 55106 in April 2024, down by 25.0% month-over-month. Of the 36 sold homes, 14% were sold under asking, 19% were sold at asking, and 67% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 22 Days | -15.4% |
Summary: Homes in 55106 had an average of 22 days on market in Apr 2024, down by 15.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
0 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 April 2024, 36 homes were sold in 55106; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
