Is 55318, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55318 has remained a Seller's Market.
Key Takeaway
55318 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55318, MN
How much do homes in 55318, MN cost?
Median Sold Price
$431,750
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in 55318 has remained the same since last year.
Summary: The median home sold price in 55318 was $431,750 in April 2024, down 0.4% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150.7K | $149.7K | -0.7% |
| 2 Bedrooms | $273.5K | $280K | +2.4% |
| 3 Bedrooms | $361.1K | $370K | +2.4% |
| 4 Bedrooms | $522.4K | $511.2K | -2.2% |
| 5+ Bedrooms | $640K | $660.3K | +3.2% |
Summary: 55318 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 3.2%.
Housing Supply in 55318, MN
How many homes are available in 55318, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 169 | 198 | +17.2% |
Summary: The 55318 real estate market had 198 homes for sale in April 2024, a 17.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 30 | 31 | +3.3% |
| 3 Bedrooms | 44 | 52 | +18.2% |
| 4 Bedrooms | 54 | 68 | +25.9% |
| 5+ Bedrooms | 38 | 43 | +13.2% |
Summary: The 55318 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 13.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 41 | +36.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55318, you may be able to get a good deal. 41.5% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in 55318 in April 2024, up by 36.7% month-over-month. Of the 41 sold homes, 41% were sold under asking, 22% were sold at asking, and 37% were sold over asking.
Days on Market for 55318, MN
How long does it take to sell a home in 55318, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 26 Days | -3.7% |
Summary: Homes in 55318 had an average of 26 days on market in Apr 2024, down by 3.7% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55318 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in 55318; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
