Is 55115, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55115 was a Seller's Market.
Key Takeaway
55115 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55115, MN
How much do homes in 55115, MN cost?
Median Sold Price
$482,500
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55115 have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in 55115 was $482,500 in March 2024, up 12.9% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $309.2K | $322.2K | +4.2% |
| 3 Bedrooms | $365K | $410K | +12.3% |
| 4 Bedrooms | $530K | $560K | +5.7% |
| 5+ Bedrooms | $670K | $625K | -6.7% |
Summary: 55115 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes decreased by 6.7%.
Housing Supply in 55115, MN
How many homes are available in 55115, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The 55115 real estate market had 23 homes for sale in March 2024, a 4.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 55115 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 decreased by 16.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55115, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 55115 in March 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 55115, MN
How long does it take to sell a home in 55115, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 68 Days | 126 Days | +85.1% |
Summary: Homes in 55115 had an average of 126 days on market in Mar 2024, up by 85.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 55115 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 2 homes were sold in 55115; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
