Is 55340, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55340 was a Seller's Market.
Key Takeaway
55340 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55340, MN
How much do homes in 55340, MN cost?
Median Sold Price
$650,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55340 have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in 55340 was $650,000 in April 2024, down 1.1% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $427.4K | $374.4K | -12.4% |
| 3 Bedrooms | $500K | $469K | -6.2% |
| 4 Bedrooms | $679.9K | $699.9K | +3.0% |
| 5+ Bedrooms | $889K | $860K | -3.3% |
Summary: 55340 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.4%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 3.3%.
Housing Supply in 55340, MN
How many homes are available in 55340, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 127 | 174 | +37.0% |
Summary: The 55340 real estate market had 174 homes for sale in April 2024, a 37.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 46 | 60 | +30.4% |
| 4 Bedrooms | 35 | 52 | +48.6% |
| 5+ Bedrooms | 33 | 49 | +48.5% |
Summary: The 55340 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 30.4%, 4 bedroom homes increased by 48.6%, and 5+ bedroom homes increased by 48.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 14 | -39.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55340, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55340 in April 2024, down by 39.1% month-over-month. Of the 14 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for 55340, MN
How long does it take to sell a home in 55340, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 24 Days | -50.5% |
Summary: Homes in 55340 had an average of 24 days on market in Apr 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55340 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 55340; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
