Is 55387, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55387 was a Seller's Market.
Housing Prices in 55387, MN
How much do homes in 55387, MN cost?
Median Sold Price
$459,990
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55387 was $459,990 in March 2024, up 5.1% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $281.4K | $245K | -13.0% |
3 Bedrooms | $412.6K | $411K | -0.4% |
4 Bedrooms | $455K | $485K | +6.6% |
5+ Bedrooms | $562.5K | $554.9K | -1.3% |
Summary: 55387 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 13%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 1.3%.
Median Sold Price Compared To Nearby Zip Codes
55375 | $430K | $480K | +11.6% |
55387 | $437.5K | $459.9K | +5.1% |
55318 | $435K | $432K | -0.7% |
55322 | $401.9K | $398.2K | -0.9% |
55386 | $592.5K | $579.9K | -2.1% |
Housing Supply in 55387, MN
How many homes are available in 55387, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
77 | 86 | +11.7% |
Summary: The 55387 real estate market had 86 homes for sale in March 2024, a 11.7% 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 | 11 | +37.5% |
3 Bedrooms | 24 | 26 | +8.3% |
4 Bedrooms | 32 | 35 | +9.4% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The 55387 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 37.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 13 | -18.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55387 in March 2024, down by 18.8% month-over-month. Of the 13 sold homes, 54% were sold under asking, 31% were sold at asking, and 15% were sold over asking.
Days on Market for 55387, MN
How long does it take to sell a home in 55387, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 29 Days | -39.9% |
Summary: Homes in 55387 had an average of 29 days on market in Mar 2024, down by 39.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 55387; 46% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.