Is 55327, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55327 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 55327 was a Buyer's Market.

Key Takeaway

55327 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 55327, MN

How much do homes in 55327, MN cost?

Median Sold Price

$446,425

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$31,350(-6.6%)

Key Takeaway

Homes in 55327 have sold for 6.6% less than they did a year ago.

Summary: The median home sold price in 55327 was $446,425 in February 2024, down 6.6% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $457.4K$448.3K
-2.0%
3 $393.4K$361.5K
-8.1%
4 $484.9K$456.4K
-5.9%
5+ $616.6K$540K
-12.4%

Summary: 55327 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 12.4%.

Median Sold Price Compared To Nearby Zip Codes

55303
0.2%
55316
0.0%
55369
-3.3%
55327
-6.6%
55374
-8.3%

Housing Supply in 55327, MN

How many homes are available in 55327, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5975+27.1%

Summary: The 55327 real estate market had 75 homes for sale in February 2024, a 27.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 1826
+44.4%
4 3442
+23.5%
5+ 76
-14.3%

Summary: The 55327 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
412+200.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55327, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 55327 in February 2024, up by 200.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% were sold over asking.

Days on Market for 55327, MN

How long does it take to sell a home in 55327, MN?

Average Sale Time

Feb 2023Feb 2024CHANGE
57 Days42 Days-26.7%

Summary: Homes in 55327 had an average of 42 days on market in Feb 2024, down by 26.7% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55327 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 12 homes were sold in 55327; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 55327, MN

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