Is 55411, 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, 55411 has remained a Seller's Market.
Key Takeaway
55411 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55411, MN
How much do homes in 55411, MN cost?
Median Sold Price
$222,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55411 have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in 55411 was $222,000 in March 2024, down 3.5% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $181K | $55K | -69.6% |
| 2 Bedrooms | $196K | $162.5K | -17.1% |
| 3 Bedrooms | $222K | $218.7K | -1.4% |
| 4 Bedrooms | $242.5K | $250K | +3.1% |
| 5+ Bedrooms | $288K | $255K | -11.5% |
Summary: 55411 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 69.6%, 2 bedroom homes decreased by 17.1%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 11.5%.
Housing Supply in 55411, MN
How many homes are available in 55411, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 113 | 112 | -0.9% |
Summary: The 55411 real estate market had 112 homes for sale in March 2024, a 0.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 48 | 47 | -2.1% |
| 4 Bedrooms | 37 | 37 | 0.0% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 55411 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 26 | +30.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55411, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 55411 in March 2024, up by 30.0% month-over-month. Of the 26 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% were sold over asking.
Days on Market for 55411, MN
How long does it take to sell a home in 55411, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 59 Days | +107.8% |
Summary: Homes in 55411 had an average of 59 days on market in Mar 2024, up by 107.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55411 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 26 homes were sold in 55411; 38% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
