Is 55125, 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, 55125 has remained a Seller's Market.
Housing Prices in 55125, MN
How much do homes in 55125, MN cost?
Median Sold Price
$390,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55125 was $390,000 in March 2024, up 3.4% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $171K | $150K | -12.3% |
2 Bedrooms | $262K | $260.2K | -0.7% |
3 Bedrooms | $362.5K | $390K | +7.6% |
4 Bedrooms | $455K | $470.5K | +3.4% |
5+ Bedrooms | $570K | $578.5K | +1.5% |
Summary: 55125 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 1.5%.
Housing Supply in 55125, MN
How many homes are available in 55125, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
111 | 118 | +6.3% |
Summary: The 55125 real estate market had 118 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 53 | 48 | -9.4% |
3 Bedrooms | 28 | 41 | +46.4% |
4 Bedrooms | 25 | 21 | -16.0% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The 55125 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 46.4%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 28 | -12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in 55125 in March 2024, down by 12.5% month-over-month. Of the 28 sold homes, 18% were sold under asking, 25% were sold at asking, and 57% were sold over asking.
Days on Market for 55125, MN
How long does it take to sell a home in 55125, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 19 Days | -45.6% |
Summary: Homes in 55125 had an average of 19 days on market in Mar 2024, down by 45.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in 55125; 68% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.