Is 55421, 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, 55421 has remained a Seller's Market.
Housing Prices in 55421, MN
How much do homes in 55421, MN cost?
Median Sold Price
$287,860
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55421 was $287,860 in March 2024, down 1% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $172.2K | +14.8% |
2 Bedrooms | $217K | $246.7K | +13.7% |
3 Bedrooms | $290K | $290K | 0.0% |
4 Bedrooms | $331.5K | $324.9K | -2.0% |
5+ Bedrooms | $350K | $372.6K | +6.5% |
Summary: 55421 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 13.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 55421, MN
How many homes are available in 55421, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 89 | +32.8% |
Summary: The 55421 real estate market had 89 homes for sale in March 2024, a 32.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 17 | 22 | +29.4% |
3 Bedrooms | 31 | 43 | +38.7% |
4 Bedrooms | 13 | 13 | 0.0% |
5+ Bedrooms | 1 | 7 | +600.0% |
Summary: The 55421 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 38.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 600%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 30 | +66.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in 55421 in March 2024, up by 66.7% month-over-month. Of the 30 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% were sold over asking.
Days on Market for 55421, MN
How long does it take to sell a home in 55421, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 40 Days | +45.7% |
Summary: Homes in 55421 had an average of 40 days on market in Mar 2024, up by 45.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in 55421; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.