Is 55434, 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, 55434 has remained a Seller's Market.
Key Takeaway
55434 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55434, MN
How much do homes in 55434, MN cost?
Median Sold Price
$340,125
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55434 have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in 55434 was $340,125 in March 2024, up 4.7% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $598.5K | - | N/A |
| 2 Bedrooms | $245K | $249.9K | +2.0% |
| 3 Bedrooms | $320K | $335K | +4.7% |
| 4 Bedrooms | $355.5K | $367K | +3.2% |
| 5+ Bedrooms | $429K | $435K | +1.4% |
Summary: 55434 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 1.4%.
Housing Supply in 55434, MN
How many homes are available in 55434, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 74 | 0.0% |
Summary: The 55434 real estate market had 74 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 14 | +16.7% |
| 3 Bedrooms | 36 | 34 | -5.6% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The 55434 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 17 | -22.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55434, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 55434 in March 2024, down by 22.7% month-over-month. Of the 17 sold homes, 41% were sold under asking, 35% were sold at asking, and 24% were sold over asking.
Days on Market for 55434, MN
How long does it take to sell a home in 55434, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 46 Days | +22.0% |
Summary: Homes in 55434 had an average of 46 days on market in Mar 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55434 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in 55434; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
