Is 55308, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55308 was a Seller's Market.
Key Takeaway
55308 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55308, MN
How much do homes in 55308, MN cost?
Median Sold Price
$355,500
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55308 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 55308 was $355,500 in April 2024, up 4.6% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $295K | +40.5% |
| 2 Bedrooms | $257.4K | $320K | +24.3% |
| 3 Bedrooms | $315K | $342.7K | +8.8% |
| 4 Bedrooms | $385K | $382.2K | -0.7% |
| 5+ Bedrooms | $467.4K | $379.9K | -18.7% |
Summary: 55308 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.5%, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 18.7%.
Housing Supply in 55308, MN
How many homes are available in 55308, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 34 | +47.8% |
Summary: The 55308 real estate market had 34 homes for sale in April 2024, a 47.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 7 | 11 | +57.1% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The 55308 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 14.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55308, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55308 in April 2024, down by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 55308, MN
How long does it take to sell a home in 55308, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 68 Days | 63 Days | -7.9% |
Summary: Homes in 55308 had an average of 63 days on market in Apr 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55308 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 55308; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
