Is 55379, 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, 55379 has remained a Seller's Market.
Key Takeaway
55379 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55379, MN
How much do homes in 55379, MN cost?
Median Sold Price
$390,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55379 have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in 55379 was $390,000 in March 2024, up 2.6% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $159K | -20.1% |
| 2 Bedrooms | $259.4K | $255K | -1.7% |
| 3 Bedrooms | $320K | $345K | +7.8% |
| 4 Bedrooms | $472.9K | $473.1K | 0.0% |
| 5+ Bedrooms | $553.4K | $610.7K | +10.3% |
Summary: 55379 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.1%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 10.3%.
Housing Supply in 55379, MN
How many homes are available in 55379, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 178 | 201 | +12.9% |
Summary: The 55379 real estate market had 201 homes for sale in March 2024, a 12.9% 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 | 26 | 21 | -19.2% |
| 3 Bedrooms | 58 | 75 | +29.3% |
| 4 Bedrooms | 59 | 62 | +5.1% |
| 5+ Bedrooms | 35 | 43 | +22.9% |
Summary: The 55379 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 decreased by 19.2%, 3 bedroom homes increased by 29.3%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 22.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 47 | 0.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55379, you may be able to get a good deal. 38.3% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in 55379 in March 2024, the same as the previous month. Of the 47 sold homes, 38% were sold under asking, 26% were sold at asking, and 36% were sold over asking.
Days on Market for 55379, MN
How long does it take to sell a home in 55379, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 35 Days | -2.5% |
Summary: Homes in 55379 had an average of 35 days on market in Mar 2024, down by 2.5% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55379 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 47 homes were sold in 55379; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
