Is 55418, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55418 has remained a Seller's Market.
Key Takeaway
55418 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55418, MN
How much do homes in 55418, MN cost?
Median Sold Price
$340,916
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55418 have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in 55418 was $340,916 in April 2024, up 3.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192.5K | $121.3K | -37.0% |
| 2 Bedrooms | $268.9K | $280K | +4.1% |
| 3 Bedrooms | $337K | $350K | +3.9% |
| 4 Bedrooms | $397.4K | $410K | +3.2% |
| 5+ Bedrooms | $400K | $600K | +50.0% |
Summary: 55418 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 50%.
Housing Supply in 55418, MN
How many homes are available in 55418, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 80 | +29.0% |
Summary: The 55418 real estate market had 80 homes for sale in April 2024, a 29.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 20 | 22 | +10.0% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 13 | 17 | +30.8% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The 55418 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55418, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 55418 in April 2024, up by 41.2% month-over-month. Of the 24 sold homes, 25% were sold under asking, 29% were sold at asking, and 46% were sold over asking.
Days on Market for 55418, MN
How long does it take to sell a home in 55418, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 18 Days | -18.9% |
Summary: Homes in 55418 had an average of 18 days on market in Apr 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55418 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in 55418; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
