Is 55412, 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, 55412 has remained a Seller's Market.
Housing Prices in 55412, MN
How much do homes in 55412, MN cost?
Median Sold Price
$213,625
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55412 was $213,625 in March 2024, down 2.9% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $137.9K | $140K | +1.5% |
2 Bedrooms | $191K | $180K | -5.8% |
3 Bedrooms | $231.9K | $229.9K | -0.9% |
4 Bedrooms | $252.5K | $249.9K | -1.0% |
5+ Bedrooms | $242.5K | $275K | +13.4% |
Summary: 55412 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 13.4%.
Housing Supply in 55412, MN
How many homes are available in 55412, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
132 | 145 | +9.8% |
Summary: The 55412 real estate market had 145 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 28 | 28 | 0.0% |
3 Bedrooms | 60 | 70 | +16.7% |
4 Bedrooms | 28 | 29 | +3.6% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The 55412 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 37 | +85.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in 55412 in March 2024, up by 85.0% month-over-month. Of the 37 sold homes, 41% were sold under asking, 22% were sold at asking, and 38% were sold over asking.
Days on Market for 55412, MN
How long does it take to sell a home in 55412, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 55 Days | +17.0% |
Summary: Homes in 55412 had an average of 55 days on market in Mar 2024, up by 17% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 37 homes were sold in 55412; 43% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.