Is 55414, 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, 55414 has remained a Seller's Market.
Key Takeaway
55414 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55414, MN
How much do homes in 55414, MN cost?
Median Sold Price
$350,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55414 have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in 55414 was $350,000 in March 2024, up 1.4% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $186K | -41.0% |
| 2 Bedrooms | $310K | $297.5K | -4.0% |
| 3 Bedrooms | $344K | $365K | +6.1% |
| 4 Bedrooms | $365K | $366K | 0.3% |
| 5+ Bedrooms | $380K | $409K | +7.6% |
Summary: 55414 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 7.6%.
Housing Supply in 55414, MN
How many homes are available in 55414, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The 55414 real estate market had 25 homes for sale in March 2024, a 8.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 55414 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 40%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55414, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 55414 in March 2024, up by 166.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for 55414, MN
How long does it take to sell a home in 55414, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 78 Days | 70 Days | -10.4% |
Summary: Homes in 55414 had an average of 70 days on market in Mar 2024, down by 10.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 55414 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 8 homes were sold in 55414; 13% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
