Is 55316, 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, 55316 has remained a Seller's Market.
Housing Prices in 55316, MN
How much do homes in 55316, MN cost?
Median Sold Price
$367,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55316 was $367,000 in March 2024, up 0.3% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $231.5K | N/A |
2 Bedrooms | $240K | $266K | +10.8% |
3 Bedrooms | $336.3K | $347.7K | +3.4% |
4 Bedrooms | $390K | $390K | 0.0% |
5+ Bedrooms | $660K | $532K | -19.4% |
Summary: 55316 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 increased by 10.8%, 3 bedroom homes increased by 3.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 19.4%.
Housing Supply in 55316, MN
How many homes are available in 55316, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 63 | +34.0% |
Summary: The 55316 real estate market had 63 homes for sale in March 2024, a 34.0% 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 | 7 | 10 | +42.9% |
3 Bedrooms | 17 | 21 | +23.5% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 10 | 15 | +50.0% |
Summary: The 55316 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 42.9%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55316 in March 2024, up by 30.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 38% were sold at asking, and 15% were sold over asking.
Days on Market for 55316, MN
How long does it take to sell a home in 55316, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 58 Days | +109.1% |
Summary: Homes in 55316 had an average of 58 days on market in Mar 2024, up by 109.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 55316; 38% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.