Is 55315, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55315 was a Seller's Market.
Key Takeaway
55315 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55315, MN
How much do homes in 55315, MN cost?
Median Sold Price
$450,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55315 have sold for 10% less than they did a year ago.
Summary: The median home sold price in 55315 was $450,000 in March 2024, down 10% 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 | - | - | N/A |
| 2 Bedrooms | $470K | $450K | -4.3% |
| 3 Bedrooms | $499.4K | $417.5K | -16.4% |
| 4 Bedrooms | $494K | $424.9K | -14.0% |
| 5+ Bedrooms | $582.7K | $537.3K | -7.8% |
Summary: 55315 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 decreased by 4.3%, 3 bedroom homes decreased by 16.4%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes decreased by 7.8%.
Housing Supply in 55315, MN
How many homes are available in 55315, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The 55315 real estate market had 14 homes for sale in March 2024, a 12.5% decrease 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 1 | -66.7% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 55315 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 100%, 3 bedroom homes decreased by 66.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55315, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in 55315 in March 2024, down by 85.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 55315, MN
How long does it take to sell a home in 55315, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 17 Days | -50.8% |
Summary: Homes in 55315 had an average of 17 days on market in Mar 2024, down by 50.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55315 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in 55315; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
