Is 55311, 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, 55311 has remained a Seller's Market.
Housing Prices in 55311, MN
How much do homes in 55311, MN cost?
Median Sold Price
$475,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55311 was $475,000 in March 2024, up 1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $260K | N/A |
2 Bedrooms | $285K | $284.9K | 0% |
3 Bedrooms | $360.4K | $378.5K | +5.0% |
4 Bedrooms | $530K | $527.9K | -0.4% |
5+ Bedrooms | $747.4K | $766K | +2.5% |
Summary: 55311 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 2.5%.
Housing Supply in 55311, MN
How many homes are available in 55311, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
135 | 164 | +21.5% |
Summary: The 55311 real estate market had 164 homes for sale in March 2024, a 21.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 23 | 29 | +26.1% |
3 Bedrooms | 30 | 36 | +20.0% |
4 Bedrooms | 38 | 46 | +21.1% |
5+ Bedrooms | 44 | 53 | +20.5% |
Summary: The 55311 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.1%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 20.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 30 | -6.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 55311 in March 2024, down by 6.3% month-over-month. Of the 30 sold homes, 53% were sold under asking, 17% were sold at asking, and 30% were sold over asking.
Days on Market for 55311, MN
How long does it take to sell a home in 55311, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 55 Days | +11.6% |
Summary: Homes in 55311 had an average of 55 days on market in Mar 2024, up by 11.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 55311; 43% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.