Is 55362, 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, 55362 has remained a Seller's Market.
Key Takeaway
55362 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55362, MN
How much do homes in 55362, MN cost?
Median Sold Price
$349,900
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55362 have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in 55362 was $349,900 in April 2024, up 7.7% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $189.7K | N/A |
| 2 Bedrooms | $266.4K | $273K | +2.5% |
| 3 Bedrooms | $310K | $322.5K | +4.0% |
| 4 Bedrooms | $352.5K | $385K | +9.2% |
| 5+ Bedrooms | $458K | $447.5K | -2.3% |
Summary: 55362 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 increased by 2.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes decreased by 2.3%.
Housing Supply in 55362, MN
How many homes are available in 55362, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 67 | 76 | +13.4% |
Summary: The 55362 real estate market had 76 homes for sale in April 2024, a 13.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 22 | 19 | -13.6% |
| 4 Bedrooms | 21 | 28 | +33.3% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The 55362 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55362, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 55362 in April 2024, up by 40.0% month-over-month. Of the 21 sold homes, 33% were sold under asking, 24% were sold at asking, and 43% were sold over asking.
Days on Market for 55362, MN
How long does it take to sell a home in 55362, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 41 Days | -11.9% |
Summary: Homes in 55362 had an average of 41 days on market in Apr 2024, down by 11.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55362 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in 55362; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
