Is 55309, 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, 55309 has remained a Seller's Market.
Key Takeaway
55309 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55309, MN
How much do homes in 55309, MN cost?
Median Sold Price
$345,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55309 have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in 55309 was $345,000 in March 2024, down 2.8% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $161K | $160.8K | -0.1% |
| 2 Bedrooms | $279.5K | $300K | +7.3% |
| 3 Bedrooms | $344.9K | $345K | 0.0% |
| 4 Bedrooms | $370.9K | $365K | -1.6% |
| 5+ Bedrooms | $455K | $375K | -17.6% |
Summary: 55309 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.1%, 2 bedroom homes increased by 7.3%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 17.6%.
Housing Supply in 55309, MN
How many homes are available in 55309, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 86 | +19.4% |
Summary: The 55309 real estate market had 86 homes for sale in March 2024, a 19.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 21 | 27 | +28.6% |
| 4 Bedrooms | 24 | 19 | -20.8% |
| 5+ Bedrooms | 14 | 21 | +50.0% |
Summary: The 55309 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 20.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55309, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 55309 in March 2024, down by 6.3% month-over-month. Of the 15 sold homes, 27% were sold under asking, 27% were sold at asking, and 47% were sold over asking.
Days on Market for 55309, MN
How long does it take to sell a home in 55309, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 25 Days | -26.5% |
Summary: Homes in 55309 had an average of 25 days on market in Mar 2024, down by 26.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55309 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 55309; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
