Is 55129, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55129 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 55129 was a Seller's Market.

Key Takeaway

55129 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 55129, MN

How much do homes in 55129, MN cost?

Median Sold Price

$540,000

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$49,372(-8.4%)

Key Takeaway

Homes in 55129 have sold for 8.4% less than they did a year ago.

Summary: The median home sold price in 55129 was $540,000 in February 2024, down 8.4% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $193K-
N/A
2 $319.9K$335K
+4.7%
3 $425K$390K
-8.2%
4 $625K$576.5K
-7.8%
5+ $692.6K$697.3K
+0.7%

Summary: 55129 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes increased by 0.7%.

Median Sold Price Compared To Nearby Zip Codes

55042
+4.6%
55125
+2.6%
55129
-8.4%
55055
-9.0%

Housing Supply in 55129, MN

How many homes are available in 55129, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
138169+22.5%

Summary: The 55129 real estate market had 169 homes for sale in February 2024, a 22.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1822
+22.2%
3 4252
+23.8%
4 4655
+19.6%
5+ 3240
+25.0%

Summary: The 55129 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2023+15.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55129, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 55129 in February 2024, up by 15.0% month-over-month. Of the 23 sold homes, 57% were sold under asking, 13% were sold at asking, and 30% were sold over asking.

Days on Market for 55129, MN

How long does it take to sell a home in 55129, MN?

Average Sale Time

Feb 2023Feb 2024CHANGE
41 Days45 Days+9.1%

Summary: Homes in 55129 had an average of 45 days on market in Feb 2024, up by 9.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55129 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 23 homes were sold in 55129; 48% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 55129, MN

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