Is 55331, 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, 55331 was a Seller's Market.
Housing Prices in 55331, MN
How much do homes in 55331, MN cost?
Median Sold Price
$812,589
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55331 was $812,589 in March 2024, up 8.6% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $900K | $901K | 0.1% |
2 Bedrooms | $430K | $610K | +41.9% |
3 Bedrooms | $570.1K | $572.4K | 0.4% |
4 Bedrooms | $745K | $815.2K | +9.4% |
5+ Bedrooms | $1.1M | $1.1M | +1.7% |
Summary: 55331 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.1%, 2 bedroom homes increased by 41.9%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 1.7%.
Housing Supply in 55331, MN
How many homes are available in 55331, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
116 | 120 | +3.4% |
Summary: The 55331 real estate market had 120 homes for sale in March 2024, a 3.4% 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 | 14 | 12 | -14.3% |
3 Bedrooms | 39 | 45 | +15.4% |
4 Bedrooms | 36 | 32 | -11.1% |
5+ Bedrooms | 27 | 31 | +14.8% |
Summary: The 55331 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 decreased by 14.3%, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 20 | -16.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 55331 in March 2024, down by 16.7% month-over-month. Of the 20 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 55331, MN
How long does it take to sell a home in 55331, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 23 Days | -34.1% |
Summary: Homes in 55331 had an average of 23 days on market in Mar 2024, down by 34.1% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 55331; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.