Is 55347, 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, 55347 has remained a Seller's Market.
Key Takeaway
55347 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55347, MN
How much do homes in 55347, MN cost?
Median Sold Price
$547,566
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55347 have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in 55347 was $547,566 in March 2024, up 6.3% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $222.9K | $235K | +5.4% |
| 2 Bedrooms | $279.9K | $280K | 0.0% |
| 3 Bedrooms | $420K | $437.4K | +4.2% |
| 4 Bedrooms | $547.5K | $593K | +8.3% |
| 5+ Bedrooms | $772.5K | $779.9K | +1.0% |
Summary: 55347 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 1%.
Housing Supply in 55347, MN
How many homes are available in 55347, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 107 | 121 | +13.1% |
Summary: The 55347 real estate market had 121 homes for sale in March 2024, a 13.1% 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 | 17 | 17 | 0.0% |
| 3 Bedrooms | 33 | 43 | +30.3% |
| 4 Bedrooms | 28 | 28 | 0.0% |
| 5+ Bedrooms | 29 | 33 | +13.8% |
Summary: The 55347 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 remained the same, 3 bedroom homes increased by 30.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 31 | +82.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55347, you may be able to get a good deal. 35.5% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 55347 in March 2024, up by 82.4% month-over-month. Of the 31 sold homes, 35% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for 55347, MN
How long does it take to sell a home in 55347, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 39 Days | +86.8% |
Summary: Homes in 55347 had an average of 39 days on market in Mar 2024, up by 86.8% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55347 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in 55347; 61% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
