Is 55356, 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, 55356 was a Seller's Market.
Housing Prices in 55356, MN
How much do homes in 55356, MN cost?
Median Sold Price
$583,750
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55356 was $583,750 in March 2024, down 22.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $425K | $325K | -23.5% |
3 Bedrooms | $467.5K | $483.6K | +3.4% |
4 Bedrooms | $756K | $748.5K | -1.0% |
5+ Bedrooms | $1.4M | $1.1M | -14.7% |
Summary: 55356 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 14.7%.
Housing Supply in 55356, MN
How many homes are available in 55356, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 44 | +18.9% |
Summary: The 55356 real estate market had 44 homes for sale in March 2024, a 18.9% 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 | 1 | 2 | +100.0% |
3 Bedrooms | 18 | 21 | +16.7% |
4 Bedrooms | 9 | 12 | +33.3% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 55356 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 increased by 100%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 55356 in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for 55356, MN
How long does it take to sell a home in 55356, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
12 Days | 78 Days | +523.6% |
Summary: Homes in 55356 had an average of 78 days on market in Mar 2024, up by 523.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in 55356; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.