Is 55420, 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, 55420 has remained a Seller's Market.
Housing Prices in 55420, MN
How much do homes in 55420, MN cost?
Median Sold Price
$330,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55420 was $330,000 in March 2024, up 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $183K | $172.5K | -5.7% |
2 Bedrooms | $244.9K | $261K | +6.6% |
3 Bedrooms | $331.2K | $330K | -0.4% |
4 Bedrooms | $349.9K | $373.5K | +6.7% |
5+ Bedrooms | $345K | $390.5K | +13.2% |
Summary: 55420 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 6.6%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 13.2%.
Housing Supply in 55420, MN
How many homes are available in 55420, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 41 | +5.1% |
Summary: The 55420 real estate market had 41 homes for sale in March 2024, a 5.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 9 | -10.0% |
3 Bedrooms | 19 | 22 | +15.8% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 55420 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 decreased by 10%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 13 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55420 in March 2024, the same as the previous month. Of the 13 sold homes, 23% were sold under asking, 15% were sold at asking, and 62% were sold over asking.
Days on Market for 55420, MN
How long does it take to sell a home in 55420, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
11 Days | 44 Days | +301.4% |
Summary: Homes in 55420 had an average of 44 days on market in Mar 2024, up by 301.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 55420; 62% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.