Is 55337, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 55337 has remained a Seller's Market.
Key Takeaway
55337 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55337, MN
How much do homes in 55337, MN cost?
Median Sold Price
$350,550
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55337 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 55337 was $350,550 in March 2024, up 4.1% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $93.2K | -1.8% |
| 2 Bedrooms | $229.9K | $249.2K | +8.4% |
| 3 Bedrooms | $342.7K | $350.1K | +2.1% |
| 4 Bedrooms | $395K | $400.5K | +1.4% |
| 5+ Bedrooms | $420K | $440K | +4.8% |
Summary: 55337 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in 55337, MN
How many homes are available in 55337, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 117 | 121 | +3.4% |
Summary: The 55337 real estate market had 121 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 | 3 | 5 | +66.7% |
| 2 Bedrooms | 29 | 30 | +3.4% |
| 3 Bedrooms | 46 | 44 | -4.3% |
| 4 Bedrooms | 25 | 29 | +16.0% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The 55337 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 33 | -2.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55337, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 55337 in March 2024, down by 2.9% month-over-month. Of the 33 sold homes, 33% were sold under asking, 12% were sold at asking, and 55% were sold over asking.
Days on Market for 55337, MN
How long does it take to sell a home in 55337, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 26 Days | +6.5% |
Summary: Homes in 55337 had an average of 26 days on market in Mar 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55337 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 33 homes were sold in 55337; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
