Is 55124, 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, 55124 has remained a Seller's Market.
Key Takeaway
55124 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55124, MN
How much do homes in 55124, MN cost?
Median Sold Price
$365,750
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55124 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 55124 was $365,750 in March 2024, up 4.5% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $146.5K | +12.7% |
| 2 Bedrooms | $246K | $253K | +2.8% |
| 3 Bedrooms | $350K | $363.5K | +3.9% |
| 4 Bedrooms | $422K | $435K | +3.1% |
| 5+ Bedrooms | $450K | $519K | +15.3% |
Summary: 55124 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 15.3%.
Housing Supply in 55124, MN
How many homes are available in 55124, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 156 | 157 | +0.6% |
Summary: The 55124 real estate market had 157 homes for sale in March 2024, a 0.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 49 | 42 | -14.3% |
| 3 Bedrooms | 48 | 52 | +8.3% |
| 4 Bedrooms | 37 | 40 | +8.1% |
| 5+ Bedrooms | 19 | 19 | 0.0% |
Summary: The 55124 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 44 | -6.4% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55124, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in 55124 in March 2024, down by 6.4% month-over-month. Of the 44 sold homes, 45% were sold under asking, 20% were sold at asking, and 34% were sold over asking.
Days on Market for 55124, MN
How long does it take to sell a home in 55124, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 35 Days | -6.8% |
Summary: Homes in 55124 had an average of 35 days on market in Mar 2024, down by 6.8% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55124 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 44 homes were sold in 55124; 64% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
