Is 55306, 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, 55306 has remained a Seller's Market.
Key Takeaway
55306 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55306, MN
How much do homes in 55306, MN cost?
Median Sold Price
$395,040
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55306 have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in 55306 was $395,040 in March 2024, up 1.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206K | $263.7K | +28.0% |
| 2 Bedrooms | $257.5K | $244.2K | -5.1% |
| 3 Bedrooms | $375K | $395K | +5.3% |
| 4 Bedrooms | $435K | $460K | +5.7% |
| 5+ Bedrooms | $445K | $575K | +29.2% |
Summary: 55306 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 29.2%.
Housing Supply in 55306, MN
How many homes are available in 55306, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 40 | +33.3% |
Summary: The 55306 real estate market had 40 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 15 | 20 | +33.3% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55306 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55306, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 55306 in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for 55306, MN
How long does it take to sell a home in 55306, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 23 Days | -57.6% |
Summary: Homes in 55306 had an average of 23 days on market in Mar 2024, down by 57.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55306 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 55306; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
