Is 55130, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55130 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 55130 was a Seller's Market.

Key Takeaway

55130 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 55130, MN

How much do homes in 55130, MN cost?

Median Sold Price

$240,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$13,000(+5.7%)

Key Takeaway

Homes in 55130 have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in 55130 was $240,000 in February 2024, up 5.7% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $158K-
N/A
2 $205K$210K
+2.4%
3 $214K$248K
+15.9%
4 $241.5K$240K
-0.6%
5+ $290K$291.2K
0.4%

Summary: 55130 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 2.4%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 0.4%.

Median Sold Price Compared To Nearby Zip Codes

55101
+7.5%
55130
+5.7%
55106
+3.4%
55117
-3.6%

Housing Supply in 55130, MN

How many homes are available in 55130, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2837+32.1%

Summary: The 55130 real estate market had 37 homes for sale in February 2024, a 32.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 57
+40.0%
3 1218
+50.0%
4 89
+12.5%
5+ 33
0.0%

Summary: The 55130 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 40%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55130, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in 55130 in February 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 55130, MN

How long does it take to sell a home in 55130, MN?

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days28 Days-25.3%

Summary: Homes in 55130 had an average of 28 days on market in Feb 2024, down by 25.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55130 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 4 homes were sold in 55130; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 55130, MN

Nearby Markets to 55130, MN