Is 55121, 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, 55121 has remained a Seller's Market.
Key Takeaway
55121 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55121, MN
How much do homes in 55121, MN cost?
Median Sold Price
$365,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55121 have sold for 28.1% more than they did a year ago.
Summary: The median home sold price in 55121 was $365,000 in April 2024, up 28.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $171K | $155.7K | -8.9% |
| 2 Bedrooms | $263K | $247.4K | -5.9% |
| 3 Bedrooms | $265.5K | $384.9K | +45.0% |
| 4 Bedrooms | $388.2K | $440.9K | +13.6% |
| 5+ Bedrooms | $553.2K | $599.9K | +8.4% |
Summary: 55121 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.9%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 45%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 8.4%.
Housing Supply in 55121, MN
How many homes are available in 55121, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Summary: The 55121 real estate market had 22 homes for sale in April 2024, a 15.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55121 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 remained the same, 3 bedroom homes increased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55121, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55121 in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 55121, MN
How long does it take to sell a home in 55121, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 30 Days | +67.9% |
Summary: Homes in 55121 had an average of 30 days on market in Apr 2024, up by 67.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55121 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 55121; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
