Is 55305, 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, 55305 has remained a Seller's Market.
Housing Prices in 55305, MN
How much do homes in 55305, MN cost?
Median Sold Price
$434,666
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55305 was $434,666 in March 2024, up 3.5% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149.3K | $149.9K | 0.4% |
2 Bedrooms | $280K | $281.2K | 0.4% |
3 Bedrooms | $420K | $486.4K | +15.8% |
4 Bedrooms | $610K | $607.4K | -0.4% |
5+ Bedrooms | $908.7K | $840K | -7.6% |
Summary: 55305 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes decreased by 7.6%.
Housing Supply in 55305, MN
How many homes are available in 55305, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
71 | 70 | -1.4% |
Summary: The 55305 real estate market had 70 homes for sale in March 2024, a 1.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 17 | 14 | -17.6% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The 55305 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in 55305 in March 2024, the same as the previous month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 55305, MN
How long does it take to sell a home in 55305, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 44 Days | +1.0% |
Summary: Homes in 55305 had an average of 44 days on market in Mar 2024, up by 1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in 55305; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.