Is 55423, 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, 55423 has remained a Seller's Market.
Housing Prices in 55423, MN
How much do homes in 55423, MN cost?
Median Sold Price
$339,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55423 was $339,000 in March 2024, up 1.5% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138.7K | $132K | -4.8% |
2 Bedrooms | $281.3K | $293.5K | +4.3% |
3 Bedrooms | $332K | $341K | +2.7% |
4 Bedrooms | $370K | $365K | -1.4% |
5+ Bedrooms | $400K | $395K | -1.3% |
Summary: 55423 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 1.3%.
Housing Supply in 55423, MN
How many homes are available in 55423, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
87 | 106 | +21.8% |
Summary: The 55423 real estate market had 106 homes for sale in March 2024, a 21.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 8 | +100.0% |
2 Bedrooms | 23 | 27 | +17.4% |
3 Bedrooms | 32 | 32 | 0.0% |
4 Bedrooms | 23 | 31 | +34.8% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The 55423 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 27 | +17.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 55423 in March 2024, up by 17.4% month-over-month. Of the 27 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for 55423, MN
How long does it take to sell a home in 55423, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 32 Days | +13.7% |
Summary: Homes in 55423 had an average of 32 days on market in Mar 2024, up by 13.7% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in 55423; 78% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.