Is 55127, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55127 was a Seller's Market.
Key Takeaway
55127 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55127, MN
How much do homes in 55127, MN cost?
Median Sold Price
$445,888
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55127 have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in 55127 was $445,888 in March 2024, down 1.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $245K | $265K | +8.2% |
| 3 Bedrooms | $450.5K | $425K | -5.7% |
| 4 Bedrooms | $544.5K | $625K | +14.8% |
| 5+ Bedrooms | $900K | $810K | -10.0% |
Summary: 55127 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.2%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 10%.
Housing Supply in 55127, MN
How many homes are available in 55127, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 89 | 110 | +23.6% |
Summary: The 55127 real estate market had 110 homes for sale in March 2024, a 23.6% 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 | 27 | 30 | +11.1% |
| 3 Bedrooms | 35 | 40 | +14.3% |
| 4 Bedrooms | 16 | 23 | +43.8% |
| 5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The 55127 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 increased by 11.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 43.8%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55127, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 55127 in March 2024, down by 11.8% month-over-month. Of the 15 sold homes, 33% were sold under asking, 27% were sold at asking, and 40% were sold over asking.
Days on Market for 55127, MN
How long does it take to sell a home in 55127, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 47 Days | +4.2% |
Summary: Homes in 55127 had an average of 47 days on market in Mar 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55127 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 55127; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
