Is 55397, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55397 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 55397 has remained a Seller's Market.

Key Takeaway

55397 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 55397, MN cost?

Median Sold Price

$281,950

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$16,950(+6.4%)

Key Takeaway

Homes in 55397 have sold for 6.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 --
N/A
2 $203K$238K
+17.2%
3 $250K$275.4K
+10.2%
4 $320K$350K
+9.4%
5+ $306.3K$515K
+68.1%

Median Sold Price Compared To Nearby Zip Codes

55368
+15.3%
55360
+10.6%
55397
+6.4%

How many homes are available in 55397, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
1211-8.3%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 00
0.0%
2 44
0.0%
3 44
0.0%
4 32
-33.3%
5+ 11
0.0%

Number of Homes Sold

Nov 2021Dec 2021%
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55397, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Dec 2020Dec 2021%
67 Days19 Days-71.5%

Breakdown of Home Sale Times

3 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 55397 are selling fast, if you're buying plan to act quickly.

About 55397, MN

There are 11 homes are for sale in 55397, MN real estate market. The inventory of homes for sale in 55397, MN between November 2021 and December 2021 decreased by 8.3%. In December 2021, listings were on the market for 19 days. During the same period, the median list price in this real estate market was $281,950. Between November 2021 and December 2021, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties increased by 17.2%, 3 bedrooms properties became 10.2% more expensive, the cost of 4 bedrooms properties went up by 9.4%, prices of 5 bedrooms properties went up by 68.1%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes have not changed, 3 bedrooms homes inventory did not change, the quantity of 4 bedrooms homes went down by 33.3%, 5 bedrooms homes inventory did not change. 55397, MN housing market in December 2021 saw over 1 listings sold above listed price, more than 2 sold at listed price and over 1 sold below.