Is 55372, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 55372 has remained a Seller's Market.
Key Takeaway
55372 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55372, MN
How much do homes in 55372, MN cost?
Median Sold Price
$510,666
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55372 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 55372 was $510,666 in March 2024, up 2.1% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195.3K | $232.5K | +19.0% |
| 2 Bedrooms | $283K | $289K | +2.1% |
| 3 Bedrooms | $391K | $387K | -1.0% |
| 4 Bedrooms | $555K | $556.5K | 0.3% |
| 5+ Bedrooms | $696.2K | $727.5K | +4.5% |
Summary: 55372 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 2.1%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in 55372, MN
How many homes are available in 55372, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 125 | 145 | +16.0% |
Summary: The 55372 real estate market had 145 homes for sale in March 2024, a 16.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 14 | 19 | +35.7% |
| 3 Bedrooms | 43 | 47 | +9.3% |
| 4 Bedrooms | 29 | 35 | +20.7% |
| 5+ Bedrooms | 39 | 43 | +10.3% |
Summary: The 55372 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55372, you may be able to get a good deal. 59.3% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 55372 in March 2024, up by 8.0% month-over-month. Of the 27 sold homes, 59% were sold under asking, 15% were sold at asking, and 26% were sold over asking.
Days on Market for 55372, MN
How long does it take to sell a home in 55372, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 54 Days | +15.3% |
Summary: Homes in 55372 had an average of 54 days on market in Mar 2024, up by 15.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55372 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in 55372; 56% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
