Is 55358, 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, 55358 has remained a Neutral Market.
Key Takeaway
55358 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55358, MN
How much do homes in 55358, MN cost?
Median Sold Price
$305,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55358 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 55358 was $305,000 in April 2024, up 0.8% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $527K | +78.6% |
| 2 Bedrooms | $327.9K | $284K | -13.4% |
| 3 Bedrooms | $285K | $316K | +10.9% |
| 4 Bedrooms | $367K | $325K | -11.4% |
| 5+ Bedrooms | $560K | $315K | -43.8% |
Summary: 55358 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 78.6%, 2 bedroom homes decreased by 13.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes decreased by 43.8%.
Housing Supply in 55358, MN
How many homes are available in 55358, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 25 | +47.1% |
Summary: The 55358 real estate market had 25 homes for sale in April 2024, a 47.1% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 6 | 11 | +83.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 55358 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 25%, 3 bedroom homes increased by 83.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55358, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55358 in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55358, MN
How long does it take to sell a home in 55358, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 23 Days | -47.8% |
Summary: Homes in 55358 had an average of 23 days on market in Apr 2024, down by 47.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55358 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 55358; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
