Is 55427, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55427 was a Buyer's Market.
Housing Prices in 55427, MN
How much do homes in 55427, MN cost?
Median Sold Price
$354,500
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55427 was $354,500 in March 2024, up 1.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $120K | +6.7% |
2 Bedrooms | $242.5K | $260K | +7.2% |
3 Bedrooms | $350K | $340K | -2.9% |
4 Bedrooms | $376K | $399.5K | +6.3% |
5+ Bedrooms | $401K | $420K | +4.7% |
Summary: 55427 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 7.2%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in 55427, MN
How many homes are available in 55427, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
57 | 66 | +15.8% |
Summary: The 55427 real estate market had 66 homes for sale in March 2024, a 15.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 7 | 6 | -14.3% |
3 Bedrooms | 21 | 27 | +28.6% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 55427 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 13 | -27.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55427 in March 2024, down by 27.8% month-over-month. Of the 13 sold homes, 23% were sold under asking, 8% were sold at asking, and 69% were sold over asking.
Days on Market for 55427, MN
How long does it take to sell a home in 55427, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 21 Days | -61.6% |
Summary: Homes in 55427 had an average of 21 days on market in Mar 2024, down by 61.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 55427; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.