Is 55403, 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, 55403 was a Seller's Market.
Housing Prices in 55403, MN
How much do homes in 55403, MN cost?
Median Sold Price
$265,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55403 was $265,000 in March 2024, up 7.8% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $161.5K | +7.7% |
2 Bedrooms | $314.9K | $304.9K | -3.2% |
3 Bedrooms | $555K | $762.5K | +37.4% |
4 Bedrooms | $810K | $1.0M | +23.9% |
5+ Bedrooms | $1.3M | $1.2M | -6.1% |
Summary: 55403 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 37.4%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes decreased by 6.1%.
Housing Supply in 55403, MN
How many homes are available in 55403, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
82 | 102 | +24.4% |
Summary: The 55403 real estate market had 102 homes for sale in March 2024, a 24.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 31 | +24.0% |
2 Bedrooms | 33 | 42 | +27.3% |
3 Bedrooms | 15 | 16 | +6.7% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The 55403 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 24%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 13 | +116.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55403 in March 2024, up by 116.7% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.
Days on Market for 55403, MN
How long does it take to sell a home in 55403, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
121 Days | 69 Days | -42.2% |
Summary: Homes in 55403 had an average of 69 days on market in Mar 2024, down by 42.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 55403; 38% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 46% of homes were sold over 90 days.