Is 55108, 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, 55108 has remained a Seller's Market.
Key Takeaway
55108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55108, MN
How much do homes in 55108, MN cost?
Median Sold Price
$339,900
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55108 have sold for 3.6% less than they did a year ago.
Summary: The median home sold price in 55108 was $339,900 in March 2024, down 3.6% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $159K | -14.1% |
| 2 Bedrooms | $270K | $282.4K | +4.6% |
| 3 Bedrooms | $352K | $355K | +0.9% |
| 4 Bedrooms | $446K | $432.5K | -3.0% |
| 5+ Bedrooms | $575K | $511K | -11.1% |
Summary: 55108 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.1%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 11.1%.
Housing Supply in 55108, MN
How many homes are available in 55108, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The 55108 real estate market had 17 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55108 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55108, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55108 in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55108, MN
How long does it take to sell a home in 55108, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 19 Days | 12 Days | -33.8% |
Summary: Homes in 55108 had an average of 12 days on market in Mar 2024, down by 33.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55108 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in 55108; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
