Is 55388, 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, 55388 has remained a Seller's Market.
Housing Prices in 55388, MN
How much do homes in 55388, MN cost?
Median Sold Price
$354,500
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55388 was $354,500 in March 2024, up 5.8% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $272K | $266.4K | -2.1% |
3 Bedrooms | $299.9K | $341.5K | +13.9% |
4 Bedrooms | $400.8K | $367.7K | -8.2% |
5+ Bedrooms | $475.5K | $447.5K | -5.9% |
Summary: 55388 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 2.1%, 3 bedroom homes increased by 13.9%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 5.9%.
Median Sold Price Compared To Nearby Zip Codes
55375 | $430K | $480K | +11.6% |
55388 | $335K | $354.5K | +5.8% |
55328 | $418.9K | $436.3K | +4.1% |
55363 | $299.9K | $290K | -3.3% |
Housing Supply in 55388, MN
How many homes are available in 55388, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 31 | +93.8% |
Summary: The 55388 real estate market had 31 homes for sale in March 2024, a 93.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 6 | 20 | +233.3% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 55388 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 233.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in 55388 in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 55388, MN
How long does it take to sell a home in 55388, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 99 Days | +149.9% |
Summary: Homes in 55388 had an average of 99 days on market in Mar 2024, up by 149.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in 55388; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.