Is 55376, 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, 55376 has remained a Seller's Market.
Key Takeaway
55376 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55376, MN
How much do homes in 55376, MN cost?
Median Sold Price
$448,675
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55376 have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in 55376 was $448,675 in March 2024, up 5.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $301K | $308.4K | +2.5% |
| 3 Bedrooms | $374K | $385K | +2.9% |
| 4 Bedrooms | $460K | $480.9K | +4.5% |
| 5+ Bedrooms | $464.9K | $524.9K | +12.9% |
Summary: 55376 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 2.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 12.9%.
Housing Supply in 55376, MN
How many homes are available in 55376, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 119 | 145 | +21.8% |
Summary: The 55376 real estate market had 145 homes for sale in March 2024, a 21.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 13 | +62.5% |
| 3 Bedrooms | 50 | 55 | +10.0% |
| 4 Bedrooms | 43 | 48 | +11.6% |
| 5+ Bedrooms | 18 | 29 | +61.1% |
Summary: The 55376 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 62.5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 61.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 25 | +38.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55376, expect to pay close to the asking price. 64% of homes here sold near the asking price last month.
Summary: A total of 25 homes were sold or pending in 55376 in March 2024, up by 38.9% month-over-month. Of the 25 sold homes, 16% were sold under asking, 64% were sold at asking, and 20% were sold over asking.
Days on Market for 55376, MN
How long does it take to sell a home in 55376, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 35 Days | -8.3% |
Summary: Homes in 55376 had an average of 35 days on market in Mar 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55376 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 55376; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
