Is 55331, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55331 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 55331 has remained a Seller's Market.

Key Takeaway

55331 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 55331, MN cost?

Median Sold Price

$658,351

$216/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$26,407(+4.2%)

Key Takeaway

Homes in 55331 have sold for 4.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $698K$382K
-45.3%
2 $491.1K$461.5K
-6.0%
3 $465K$495K
+6.5%
4 $665K$660K
-0.8%
5+ $948.5K$964.2K
+1.6%

Median Sold Price Compared To Nearby Zip Codes

55364
+23.7%
55317
+17.7%
55386
+13.1%
55391
+11.5%
55331
+4.2%

How many homes are available in 55331, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
12492-25.8%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 117
-36.4%
3 3129
-6.5%
4 4026
-35.0%
5+ 4230
-28.6%

Number of Homes Sold

Nov 2021Dec 2021%
4432-27.3%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55331, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
28 Days39 Days+38.3%

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55331 are selling fast, if you're buying plan to act quickly.

About 55331, MN

Homes for sale in 55331, MN have reached 92. The number of homes for sale in 55331, MN decreased by 25.8% between November 2021 and December 2021. The median list price of listings available in December 2021 was $658,351, while the average time on the real estate market was 39 days. From November 2021 through December 2021, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went down by 45.3%, prices of 2 bedrooms properties decreased by 6%, 3 bedrooms properties became 6.5% more expensive, the cost of 4 bedrooms properties went down by 0.8%, prices of 5 bedrooms properties went up by 1.6%. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes became 36.4% less available, number of 3 bedrooms homes decreased by 6.5%, number of 4 bedrooms homes decreased by 35%, 5 bedrooms homes became 28.6% less available. In December 2021 more than 8 listings in 55331, MN were sold above the asking price. During the same period more than 9 listings were sold at asking price, while more than 15 were sold below.