Is 55317, 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, 55317 has remained a Seller's Market.
Key Takeaway
55317 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55317, MN
How much do homes in 55317, MN cost?
Median Sold Price
$475,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55317 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 55317 was $475,000 in March 2024, up 4.9% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $185K | -15.9% |
| 2 Bedrooms | $280K | $282.5K | +0.9% |
| 3 Bedrooms | $400K | $420K | +5.0% |
| 4 Bedrooms | $560K | $582.6K | +4.1% |
| 5+ Bedrooms | $777.5K | $800K | +2.9% |
Summary: 55317 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.9%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in 55317, MN
How many homes are available in 55317, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 76 | +2.7% |
Summary: The 55317 real estate market had 76 homes for sale in March 2024, a 2.7% 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 | 10 | -16.7% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 29 | 30 | +3.4% |
Summary: The 55317 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 decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55317, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 55317 in March 2024, down by 9.1% month-over-month. Of the 20 sold homes, 45% were sold under asking, 25% were sold at asking, and 30% were sold over asking.
Days on Market for 55317, MN
How long does it take to sell a home in 55317, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 40 Days | +17.0% |
Summary: Homes in 55317 had an average of 40 days on market in Mar 2024, up by 17% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55317 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 55317; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
