Is 55405, 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, 55405 was a Seller's Market.
Housing Prices in 55405, MN
How much do homes in 55405, MN cost?
Median Sold Price
$429,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55405 was $429,000 in March 2024, down 5.7% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $108.7K | -9.4% |
2 Bedrooms | $351.2K | $315K | -10.3% |
3 Bedrooms | $483.5K | $525K | +8.6% |
4 Bedrooms | $614.5K | $781.5K | +27.2% |
5+ Bedrooms | $769.7K | $1.2M | +61.4% |
Summary: 55405 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 27.2%, and 5+ bedroom homes increased by 61.4%.
Housing Supply in 55405, MN
How many homes are available in 55405, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 53 | +35.9% |
Summary: The 55405 real estate market had 53 homes for sale in March 2024, a 35.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 8 | 11 | +37.5% |
3 Bedrooms | 6 | 10 | +66.7% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 55405 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 55405 in March 2024, the same as the previous month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for 55405, MN
How long does it take to sell a home in 55405, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
58 Days | 68 Days | +17.3% |
Summary: Homes in 55405 had an average of 68 days on market in Mar 2024, up by 17.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in 55405; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.