Is 55397, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55397 was a Seller's Market.
Key Takeaway
55397 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55397, MN
How much do homes in 55397, MN cost?
Median Sold Price
$314,999
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55397 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 55397 was $314,999 in April 2024, up 6.1% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $262K | $257.4K | -1.8% |
| 3 Bedrooms | $307K | $305.7K | -0.4% |
| 4 Bedrooms | $273K | $342.5K | +25.5% |
| 5+ Bedrooms | $380K | $459.7K | +21.0% |
Summary: 55397 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 21%.
Median Sold Price Compared To Nearby Zip Codes
| 55397 | $297K | $314.9K | +6.1% |
| 55368 | $269K | $253K | -5.9% |
| 55354 | $288K | $265.5K | -7.8% |
Housing Supply in 55397, MN
How many homes are available in 55397, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The 55397 real estate market had 13 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 5 | 3 | -40.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55397 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55397, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 55397 in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 55397, MN
How long does it take to sell a home in 55397, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 67 Days | 7 Days | -89.6% |
Summary: Homes in 55397 had an average of 7 days on market in Apr 2024, down by 89.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55397 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 55397; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
