Is 55119, 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, 55119 has remained a Seller's Market.
Key Takeaway
55119 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55119, MN
How much do homes in 55119, MN cost?
Median Sold Price
$286,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55119 have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in 55119 was $286,000 in April 2024, up 5.9% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | $145K | -3.3% |
| 2 Bedrooms | $225K | $237.5K | +5.6% |
| 3 Bedrooms | $270K | $280K | +3.7% |
| 4 Bedrooms | $339K | $380K | +12.1% |
| 5+ Bedrooms | $445K | $430K | -3.4% |
Summary: 55119 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 3.4%.
Housing Supply in 55119, MN
How many homes are available in 55119, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 93 | +19.2% |
Summary: The 55119 real estate market had 93 homes for sale in April 2024, a 19.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 15 | 23 | +53.3% |
| 3 Bedrooms | 37 | 39 | +5.4% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 55119 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 53.3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 18 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55119, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 55119 in April 2024, down by 40.0% month-over-month. Of the 18 sold homes, 17% were sold under asking, 22% were sold at asking, and 61% were sold over asking.
Days on Market for 55119, MN
How long does it take to sell a home in 55119, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 27 Days | -13.0% |
Summary: Homes in 55119 had an average of 27 days on market in Apr 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55119 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in 55119; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
