Is 55328, 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, 55328 was a Seller's Market.
Key Takeaway
55328 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55328, MN
How much do homes in 55328, MN cost?
Median Sold Price
$436,357
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55328 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 55328 was $436,357 in March 2024, up 4.1% 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 | - | - | N/A |
| 2 Bedrooms | $298.9K | $310K | +3.7% |
| 3 Bedrooms | $365K | $373.5K | +2.3% |
| 4 Bedrooms | $479.7K | $444.7K | -7.3% |
| 5+ Bedrooms | $491.1K | $519.1K | +5.7% |
Summary: 55328 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 3.7%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 5.7%.
Housing Supply in 55328, MN
How many homes are available in 55328, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 79 | +31.7% |
Summary: The 55328 real estate market had 79 homes for sale in March 2024, a 31.7% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 30 | 40 | +33.3% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The 55328 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 25%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55328, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 55328 in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for 55328, MN
How long does it take to sell a home in 55328, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 44 Days | -19.9% |
Summary: Homes in 55328 had an average of 44 days on market in Mar 2024, down by 19.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55328 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 55328; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
