Is 55110, 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, 55110 has remained a Seller's Market.
Key Takeaway
55110 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55110, MN
How much do homes in 55110, MN cost?
Median Sold Price
$365,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55110 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 55110 was $365,000 in April 2024, up 4.2% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $270K | +63.6% |
| 2 Bedrooms | $284K | $280K | -1.4% |
| 3 Bedrooms | $350K | $352.5K | +0.7% |
| 4 Bedrooms | $390K | $396K | +1.5% |
| 5+ Bedrooms | $530K | $600K | +13.2% |
Summary: 55110 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.6%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in 55110, MN
How many homes are available in 55110, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 109 | 124 | +13.8% |
Summary: The 55110 real estate market had 124 homes for sale in April 2024, a 13.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 24 | 29 | +20.8% |
| 3 Bedrooms | 38 | 38 | 0.0% |
| 4 Bedrooms | 40 | 44 | +10.0% |
| 5+ Bedrooms | 7 | 13 | +85.7% |
Summary: The 55110 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 20.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 85.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 36 | +12.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55110, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in 55110 in April 2024, up by 12.5% month-over-month. Of the 36 sold homes, 28% were sold under asking, 22% were sold at asking, and 50% were sold over asking.
Days on Market for 55110, MN
How long does it take to sell a home in 55110, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 16 Days | +2.0% |
Summary: Homes in 55110 had an average of 16 days on market in Apr 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55110 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 36 homes were sold in 55110; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
