Is 55424, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, 55424 was a Neutral Market.
Key Takeaway
55424 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55424, MN
How much do homes in 55424, MN cost?
Median Sold Price
$1,091,000
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in 55424 have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in 55424 was $1,091,000 in November 2023, up 9.6% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $475K | $673K | +41.7% |
| 3 Bedrooms | $642.5K | $620K | -3.5% |
| 4 Bedrooms | $956.5K | $979K | +2.4% |
| 5+ Bedrooms | $1.5M | $1.6M | +11.6% |
Summary: 55424 housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 41.7%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 11.6%.
Housing Supply in 55424, MN
How many homes are available in 55424, MN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 63 | 56 | -11.1% |
Summary: The 55424 real estate market had 56 homes for sale in November 2023, a 11.1% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 17 | 13 | -23.5% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 29 | 28 | -3.4% |
Summary: The 55424 housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 23.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 3.4%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55424, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 55424 in November 2023, down by 20.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for 55424, MN
How long does it take to sell a home in 55424, MN?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 14 Days | 14 Days | +1.7% |
Summary: Homes in 55424 had an average of 14 days on market in Nov 2023, up by 1.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55424 are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 12 homes were sold in 55424; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
