Is 55112, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 55112 has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126.5K | $210K | +66.0% |
2 Bedrooms | $242K | $261.7K | +8.2% |
3 Bedrooms | $330K | $332K | +0.6% |
4 Bedrooms | $420K | $415K | -1.2% |
5+ Bedrooms | $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%.
Housing Supply in 55112, MN
How many homes are available in 55112, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
45 | 65 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 10 | +42.9% |
3 Bedrooms | 24 | 32 | +33.3% |
4 Bedrooms | 10 | 17 | +70.0% |
5+ Bedrooms | 4 | 6 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
17 | 14 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 44 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
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.