Is 55123, 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, 55123 has remained a Seller's Market.
Key Takeaway
55123 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55123, MN
How much do homes in 55123, MN cost?
Median Sold Price
$444,900
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 55123 has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $176K | $171.4K | -2.6% |
| 2 Bedrooms | $223.2K | $210K | -5.9% |
| 3 Bedrooms | $385K | $390K | +1.3% |
| 4 Bedrooms | $485.2K | $519K | +7.0% |
| 5+ Bedrooms | $600K | $658.5K | +9.8% |
Summary: 55123 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.6%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 9.8%.
Housing Supply in 55123, MN
How many homes are available in 55123, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 56 | -5.1% |
Summary: The 55123 real estate market had 56 homes for sale in March 2024, a 5.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The 55123 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55123, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55123 in March 2024, down by 17.6% month-over-month. Of the 14 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for 55123, MN
How long does it take to sell a home in 55123, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 21 Days | -21.3% |
Summary: Homes in 55123 had an average of 21 days on market in Mar 2024, down by 21.3% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55123 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in 55123; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
