Is 55128, 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, 55128 has remained a Seller's Market.
Key Takeaway
55128 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55128, MN
How much do homes in 55128, MN cost?
Median Sold Price
$349,990
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55128 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 55128 was $349,990 in March 2024, up 8.3% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202.5K | $185K | -8.6% |
| 2 Bedrooms | $254.3K | $241K | -5.2% |
| 3 Bedrooms | $327.5K | $349.9K | +6.9% |
| 4 Bedrooms | $410K | $401.5K | -2.1% |
| 5+ Bedrooms | $402K | $420K | +4.5% |
Summary: 55128 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.6%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in 55128, MN
How many homes are available in 55128, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 88 | 83 | -5.7% |
Summary: The 55128 real estate market had 83 homes for sale in March 2024, a 5.7% decrease 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 | 21 | 22 | +4.8% |
| 3 Bedrooms | 39 | 28 | -28.2% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 2 | 7 | +250.0% |
Summary: The 55128 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 4.8%, 3 bedroom homes decreased by 28.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 250%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 22 | -38.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55128, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in 55128 in March 2024, down by 38.9% month-over-month. Of the 22 sold homes, 36% were sold under asking, 45% were sold at asking, and 18% were sold over asking.
Days on Market for 55128, MN
How long does it take to sell a home in 55128, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 36 Days | +57.3% |
Summary: Homes in 55128 had an average of 36 days on market in Mar 2024, up by 57.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55128 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in 55128; 59% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
