Is 55371, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55371 was a Seller's Market.
Key Takeaway
55371 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55371, MN
How much do homes in 55371, MN cost?
Median Sold Price
$339,450
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55371 have sold for 2% less than they did a year ago.
Summary: The median home sold price in 55371 was $339,450 in April 2024, down 2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80.5K | $139.9K | +73.8% |
| 2 Bedrooms | $284.9K | $294K | +3.2% |
| 3 Bedrooms | $334.5K | $323K | -3.4% |
| 4 Bedrooms | $392.5K | $347.5K | -11.5% |
| 5+ Bedrooms | $504.5K | $417.5K | -17.2% |
Summary: 55371 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.8%, 2 bedroom homes increased by 3.2%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 17.2%.
Housing Supply in 55371, MN
How many homes are available in 55371, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 38 | 51 | +34.2% |
Summary: The 55371 real estate market had 51 homes for sale in April 2024, a 34.2% 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 | 5 | 8 | +60.0% |
| 3 Bedrooms | 17 | 23 | +35.3% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 55371 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 60%, 3 bedroom homes increased by 35.3%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 5 | -54.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55371, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 55371 in April 2024, down by 54.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for 55371, MN
How long does it take to sell a home in 55371, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 57 Days | 22 Days | -61.2% |
Summary: Homes in 55371 had an average of 22 days on market in Apr 2024, down by 61.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55371 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 55371; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
