Is 55430, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55430 has remained a Seller's Market.
Key Takeaway
55430 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55430, MN
How much do homes in 55430, MN cost?
Median Sold Price
$272,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55430 have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in 55430 was $272,500 in April 2024, up 2.8% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $161.7K | $146.5K | -9.4% |
| 2 Bedrooms | $205.9K | $220K | +6.8% |
| 3 Bedrooms | $265K | $265K | 0.0% |
| 4 Bedrooms | $291.5K | $307K | +5.3% |
| 5+ Bedrooms | $351.2K | $322.5K | -8.2% |
Summary: 55430 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes increased by 6.8%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 8.2%.
Housing Supply in 55430, MN
How many homes are available in 55430, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 84 | 81 | -3.6% |
Summary: The 55430 real estate market had 81 homes for sale in April 2024, a 3.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 41 | 40 | -2.4% |
| 4 Bedrooms | 30 | 28 | -6.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 55430 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55430, you could pay more than the asking price. 64.3% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in 55430 in April 2024, the same as the previous month. Of the 28 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.
Days on Market for 55430, MN
How long does it take to sell a home in 55430, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 14 Days | -32.9% |
Summary: Homes in 55430 had an average of 14 days on market in Apr 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55430 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 28 homes were sold in 55430; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
