Is 55404, 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, 55404 was a Seller's Market.
Key Takeaway
55404 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55404, MN
How much do homes in 55404, MN cost?
Median Sold Price
$227,750
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55404 have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in 55404 was $227,750 in April 2024, down 5.1% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $170K | +3.0% |
| 2 Bedrooms | $286K | $287.4K | 0.5% |
| 3 Bedrooms | $238.7K | $323.7K | +35.6% |
| 4 Bedrooms | $340K | $276.5K | -18.7% |
| 5+ Bedrooms | $570K | $333.5K | -41.5% |
Summary: 55404 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 35.6%, 4 bedroom homes decreased by 18.7%, and 5+ bedroom homes decreased by 41.5%.
Housing Supply in 55404, MN
How many homes are available in 55404, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 76 | +26.7% |
Summary: The 55404 real estate market had 76 homes for sale in April 2024, a 26.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 23 | +21.1% |
| 2 Bedrooms | 27 | 32 | +18.5% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 4 | +300.0% |
Summary: The 55404 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.1%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 300%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55404, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 55404 in April 2024, down by 12.5% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for 55404, MN
How long does it take to sell a home in 55404, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 54 Days | +11.8% |
Summary: Homes in 55404 had an average of 54 days on market in Apr 2024, up by 11.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55404 has remained consistent over time.
Summary: During April 2024, 7 homes were sold in 55404; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
