Is 55359, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55359 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 55359 was a Seller's Market.

Key Takeaway

55359 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 55359, MN

How much do homes in 55359, MN cost?

Median Sold Price

$563,500

$235/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$23,500(+4.4%)

Key Takeaway

Homes in 55359 have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in 55359 was $563,500 in February 2024, up 4.4% from last year, and the median price per square foot was $235.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$567K
N/A
2 $425K$301.2K
-29.1%
3 $430K$370K
-14.0%
4 $906.5K$597.5K
-34.1%
5+ $1.2M$1.2M
+3.9%

Summary: 55359 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 29.1%, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 34.1%, and 5+ bedroom homes increased by 3.9%.

Median Sold Price Compared To Nearby Zip Codes

55357
+12.7%
55373
+5.6%
55359
+4.4%
55364
-2.0%
55356
-24.7%

Housing Supply in 55359, MN

How many homes are available in 55359, MN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1320+53.8%

Summary: The 55359 real estate market had 20 homes for sale in February 2024, a 53.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 44
0.0%
4 57
+40.0%
5+ 48
+100.0%

Summary: The 55359 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55359, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 55359 in February 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 55359, MN

How long does it take to sell a home in 55359, MN?

Average Sale Time

Feb 2023Feb 2024CHANGE
42 Days25 Days-40.5%

Summary: Homes in 55359 had an average of 25 days on market in Feb 2024, down by 40.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55359 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 2 homes were sold in 55359; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 55359, MN

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