Is 55378, 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, 55378 has remained a Seller's Market.
Key Takeaway
55378 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55378, MN
How much do homes in 55378, MN cost?
Median Sold Price
$408,000
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55378 have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in 55378 was $408,000 in March 2024, down 2.4% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $299.9K | $293.4K | -2.2% |
| 3 Bedrooms | $365K | $375K | +2.7% |
| 4 Bedrooms | $435K | $450K | +3.4% |
| 5+ Bedrooms | $540K | $530K | -1.9% |
Summary: 55378 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 decreased by 2.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 1.9%.
Housing Supply in 55378, MN
How many homes are available in 55378, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 84 | 95 | +13.1% |
Summary: The 55378 real estate market had 95 homes for sale in March 2024, a 13.1% 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 | 17 | 17 | 0.0% |
| 3 Bedrooms | 26 | 29 | +11.5% |
| 4 Bedrooms | 32 | 40 | +25.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 55378 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 remained the same, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55378, expect to pay close to the asking price. 47.4% of homes here sold near the asking price last month.
Summary: A total of 19 homes were sold or pending in 55378 in March 2024, the same as the previous month. Of the 19 sold homes, 32% were sold under asking, 47% were sold at asking, and 21% were sold over asking.
Days on Market for 55378, MN
How long does it take to sell a home in 55378, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +24.1% |
Summary: Homes in 55378 had an average of 28 days on market in Mar 2024, up by 24.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55378 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in 55378; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
