Is 55122, 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, 55122 has remained a Seller's Market.
Housing Prices in 55122, MN
How much do homes in 55122, MN cost?
Median Sold Price
$340,000
$187/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Summary: The median home sold price in 55122 was $340,000 in April 2024, the same as last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $129.4K | -26.0% |
2 Bedrooms | $248.7K | $250K | 0.5% |
3 Bedrooms | $350K | $357K | +2.0% |
4 Bedrooms | $427K | $426.5K | -0.1% |
5+ Bedrooms | $578K | $467K | -19.2% |
Summary: 55122 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 19.2%.
Housing Supply in 55122, MN
How many homes are available in 55122, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
101 | 108 | +6.9% |
Summary: The 55122 real estate market had 108 homes for sale in April 2024, a 6.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 31 | 30 | -3.2% |
3 Bedrooms | 36 | 39 | +8.3% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 6 | 12 | +100.0% |
Summary: The 55122 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 28 | -17.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in 55122 in April 2024, down by 17.6% month-over-month. Of the 28 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55122, MN
How long does it take to sell a home in 55122, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 23 Days | +78.6% |
Summary: Homes in 55122 had an average of 23 days on market in Apr 2024, up by 78.6% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in 55122; 79% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.