Is 55117, 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, 55117 has remained a Seller's Market.
Housing Prices in 55117, MN
How much do homes in 55117, MN cost?
Median Sold Price
$264,283
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55117 was $264,283 in March 2024, down 1.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $121K | $132K | +9.1% |
2 Bedrooms | $185.7K | $190K | +2.3% |
3 Bedrooms | $275.5K | $295K | +7.1% |
4 Bedrooms | $340.2K | $352.5K | +3.6% |
5+ Bedrooms | $355K | $380K | +7.0% |
Summary: 55117 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 7%.
Housing Supply in 55117, MN
How many homes are available in 55117, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
79 | 96 | +21.5% |
Summary: The 55117 real estate market had 96 homes for sale in March 2024, a 21.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 24 | 27 | +12.5% |
3 Bedrooms | 37 | 39 | +5.4% |
4 Bedrooms | 12 | 23 | +91.7% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 55117 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 91.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 26 | +73.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in 55117 in March 2024, up by 73.3% month-over-month. Of the 26 sold homes, 12% were sold under asking, 50% were sold at asking, and 38% were sold over asking.
Days on Market for 55117, MN
How long does it take to sell a home in 55117, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 33 Days | -10.2% |
Summary: Homes in 55117 had an average of 33 days on market in Mar 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 26 homes were sold in 55117; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.