Is 55364, 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, 55364 has remained a Seller's Market.
Key Takeaway
55364 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55364, MN
How much do homes in 55364, MN cost?
Median Sold Price
$423,333
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55364 have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in 55364 was $423,333 in April 2024, down 3.8% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $160K | +10.3% |
| 2 Bedrooms | $279.9K | $285K | +1.8% |
| 3 Bedrooms | $389.7K | $370K | -5.1% |
| 4 Bedrooms | $730K | $690K | -5.5% |
| 5+ Bedrooms | $890K | $870K | -2.2% |
Summary: 55364 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 2.2%.
Housing Supply in 55364, MN
How many homes are available in 55364, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 84 | 105 | +25.0% |
Summary: The 55364 real estate market had 105 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 15 | 18 | +20.0% |
| 3 Bedrooms | 22 | 27 | +22.7% |
| 4 Bedrooms | 33 | 41 | +24.2% |
| 5+ Bedrooms | 10 | 16 | +60.0% |
Summary: The 55364 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 21 | +50.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55364, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 55364 in April 2024, up by 50.0% month-over-month. Of the 21 sold homes, 43% were sold under asking, 24% were sold at asking, and 33% were sold over asking.
Days on Market for 55364, MN
How long does it take to sell a home in 55364, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 37 Days | +120.0% |
Summary: Homes in 55364 had an average of 37 days on market in Apr 2024, up by 120% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55364 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in 55364; 48% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
