Is 55388, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55388 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 55388 has remained a Seller's Market.

Key Takeaway

55388 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 55388, MN cost?

Median Sold Price

$312,900

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$20,581(+7.0%)

Key Takeaway

Homes in 55388 have sold for 7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 --
N/A
2 $264.9K$231.5K
-12.6%
3 $278K$280K
+0.7%
4 $307K$350K
+14.0%
5+ $335K$391.5K
+16.9%

Median Sold Price Compared To Nearby Zip Codes

55375
+22.0%
55360
+10.6%
55363
+10.4%
55328
+7.2%
55388
+7.0%

How many homes are available in 55388, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
3126-16.1%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 32
-33.3%
3 1612
-25.0%
4 99
0.0%
5+ 33
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
880.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55388, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
43 Days10 Days-75.7%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55388 are selling fast, if you're buying plan to act quickly.

About 55388, MN

55388, MN has 26 homes for sale to choose from. Between November 2021 and December 2021, 55388, MN real estate market has seen decrease in the number of listings by 16.1%. The median list price of listings available in December 2021 was $312,900, while the average time on the real estate market was 10 days. From November 2021 through December 2021, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, prices of 2 bedrooms properties decreased by 12.6%, the cost of 3 bedrooms properties went up by 0.7%, the cost of 4 bedrooms properties went up by 14%, prices of 5 bedrooms properties increased by 16.9%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes went down by 33.3%, 3 bedrooms homes inventory decreased by 25%, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes remained the same. While more than 6 listings in 55388, MN in December 2021 were sold above asking price, there were more than 2 listings sold at asking price, and more than 0 were sold below.