Is 55126, 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, 55126 has remained a Seller's Market.
Key Takeaway
55126 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55126, MN
How much do homes in 55126, MN cost?
Median Sold Price
$352,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55126 have sold for 7.2% less than they did a year ago.
Summary: The median home sold price in 55126 was $352,000 in March 2024, down 7.2% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $122K | $127.7K | +4.7% |
| 2 Bedrooms | $255K | $257K | +0.8% |
| 3 Bedrooms | $365K | $352.5K | -3.4% |
| 4 Bedrooms | $452.5K | $444K | -1.9% |
| 5+ Bedrooms | $590K | $572.5K | -3.0% |
Summary: 55126 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 3%.
Housing Supply in 55126, MN
How many homes are available in 55126, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 88 | +22.2% |
Summary: The 55126 real estate market had 88 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 1 | -75.0% |
| 2 Bedrooms | 20 | 25 | +25.0% |
| 3 Bedrooms | 18 | 26 | +44.4% |
| 4 Bedrooms | 20 | 27 | +35.0% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 55126 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 75%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 35%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55126, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 55126 in March 2024, up by 29.4% month-over-month. Of the 22 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for 55126, MN
How long does it take to sell a home in 55126, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +44.6% |
Summary: Homes in 55126 had an average of 36 days on market in Mar 2024, up by 44.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55126 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in 55126; 59% 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.
