Is 55129, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 55129 was a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $193K | - | N/A |
2 Bedrooms | $319.9K | $335K | +4.7% |
3 Bedrooms | $425K | $390K | -8.2% |
4 Bedrooms | $625K | $576.5K | -7.8% |
5+ Bedrooms | $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%.
Housing Supply in 55129, MN
How many homes are available in 55129, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
138 | 169 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 18 | 22 | +22.2% |
3 Bedrooms | 42 | 52 | +23.8% |
4 Bedrooms | 46 | 55 | +19.6% |
5+ Bedrooms | 32 | 40 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
20 | 23 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
41 Days | 45 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
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.