Is 55301, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55301 has remained a Seller's Market.
Key Takeaway
55301 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55301, MN
How much do homes in 55301, MN cost?
Median Sold Price
$370,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55301 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 55301 was $370,000 in April 2024, down 0.9% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $270K | $261K | -3.3% |
| 3 Bedrooms | $339.9K | $340K | 0.0% |
| 4 Bedrooms | $429K | $428.5K | -0.1% |
| 5+ Bedrooms | $457.5K | $452.9K | -1.0% |
Summary: 55301 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes did not change, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 1%.
Housing Supply in 55301, MN
How many homes are available in 55301, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 67 | +21.8% |
Summary: The 55301 real estate market had 67 homes for sale in April 2024, a 21.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 55301 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 17 | +70.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55301, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 55301 in April 2024, up by 70.0% month-over-month. Of the 17 sold homes, 65% were sold under asking, 12% were sold at asking, and 24% were sold over asking.
Days on Market for 55301, MN
How long does it take to sell a home in 55301, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 52 Days | +32.2% |
Summary: Homes in 55301 had an average of 52 days on market in Apr 2024, up by 32.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55301 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in 55301; 59% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
