Is 55409, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 55409 has remained a Seller's Market.
Key Takeaway
55409 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55409, MN
How much do homes in 55409, MN cost?
Median Sold Price
$332,500
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55409 have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in 55409 was $332,500 in March 2024, down 1.9% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.9K | $159.9K | +6.7% |
| 2 Bedrooms | $272K | $241K | -11.4% |
| 3 Bedrooms | $345K | $350.3K | +1.6% |
| 4 Bedrooms | $442K | $433K | -2.0% |
| 5+ Bedrooms | $578.5K | $614K | +6.1% |
Summary: 55409 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 6.1%.
Housing Supply in 55409, MN
How many homes are available in 55409, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 35 | +20.7% |
Summary: The 55409 real estate market had 35 homes for sale in March 2024, a 20.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 55409 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 45.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55409, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 55409 in March 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for 55409, MN
How long does it take to sell a home in 55409, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 29 Days | -2.7% |
Summary: Homes in 55409 had an average of 29 days on market in Mar 2024, down by 2.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55409 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 55409; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
