Is 55112, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55112 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 55112 has remained a Seller's Market.

Key Takeaway

55112 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55112, MN

How much do homes in 55112, MN cost?

Median Sold Price

$358,083

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$8,083(+2.3%)

Key Takeaway

Homes in 55112 have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in 55112 was $358,083 in February 2024, up 2.3% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $126.5K$210K
+66.0%
2 $242K$261.7K
+8.2%
3 $330K$332K
+0.6%
4 $420K$415K
-1.2%
5+ $472.4K$538K
+13.9%

Summary: 55112 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 66%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 13.9%.

Median Sold Price Compared To Nearby Zip Codes

55432
+4.5%
55112
+2.3%
55113
+2.1%
55421
-1.7%
55126
-3.6%

Housing Supply in 55112, MN

How many homes are available in 55112, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4565+44.4%

Summary: The 55112 real estate market had 65 homes for sale in February 2024, a 44.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 710
+42.9%
3 2432
+33.3%
4 1017
+70.0%
5+ 46
+50.0%

Summary: The 55112 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 70%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1714-17.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55112, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 55112 in February 2024, down by 17.6% month-over-month. Of the 14 sold homes, 43% were sold under asking, 36% were sold at asking, and 21% were sold over asking.

Days on Market for 55112, MN

How long does it take to sell a home in 55112, MN?

Average Sale Time

Feb 2023Feb 2024CHANGE
35 Days44 Days+26.2%

Summary: Homes in 55112 had an average of 44 days on market in Feb 2024, up by 26.2% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55112 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 14 homes were sold in 55112; 43% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 55112, MN

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