Is 55374, 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, 55374 has remained a Seller's Market.
Housing Prices in 55374, MN
How much do homes in 55374, MN cost?
Median Sold Price
$439,755
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55374 was $439,755 in March 2024, down 7.4% 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 | - | $388.9K | N/A |
2 Bedrooms | $380K | $403K | +6.1% |
3 Bedrooms | $411.2K | $365K | -11.2% |
4 Bedrooms | $494.9K | $490K | -1.0% |
5+ Bedrooms | $535K | $478.2K | -10.6% |
Summary: 55374 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 10.6%.
Housing Supply in 55374, MN
How many homes are available in 55374, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
161 | 178 | +10.6% |
Summary: The 55374 real estate market had 178 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 25 | 29 | +16.0% |
3 Bedrooms | 71 | 80 | +12.7% |
4 Bedrooms | 53 | 56 | +5.7% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The 55374 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 31 | -26.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in 55374 in March 2024, down by 26.2% month-over-month. Of the 31 sold homes, 55% were sold under asking, 19% were sold at asking, and 26% were sold over asking.
Days on Market for 55374, MN
How long does it take to sell a home in 55374, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 28 Days | -24.2% |
Summary: Homes in 55374 had an average of 28 days on market in Mar 2024, down by 24.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 31 homes were sold in 55374; 71% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.