Is 55350, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55350 has remained a Seller's Market.
Key Takeaway
55350 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55350, MN
How much do homes in 55350, MN cost?
Median Sold Price
$264,950
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55350 have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in 55350 was $264,950 in April 2024, down 1.1% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | - | N/A |
| 2 Bedrooms | $232K | $229.9K | -0.9% |
| 3 Bedrooms | $251K | $251.5K | 0.2% |
| 4 Bedrooms | $291.5K | $290.7K | -0.3% |
| 5+ Bedrooms | $380K | $350K | -7.9% |
Summary: 55350 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 0.9%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 7.9%.
Housing Supply in 55350, MN
How many homes are available in 55350, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 72 | +28.6% |
Summary: The 55350 real estate market had 72 homes for sale in April 2024, a 28.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 12 | 17 | +41.7% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 18 | 24 | +33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 55350 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 19 | +72.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55350, expect to pay close to the asking price. 36.8% of homes here sold near the asking price last month.
Summary: A total of 19 homes were sold or pending in 55350 in April 2024, up by 72.7% month-over-month. Of the 19 sold homes, 32% were sold under asking, 37% were sold at asking, and 32% were sold over asking.
Days on Market for 55350, MN
How long does it take to sell a home in 55350, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 29 Days | -10.4% |
Summary: Homes in 55350 had an average of 29 days on market in Apr 2024, down by 10.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55350 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 19 homes were sold in 55350; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
