Is 55435, 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, 55435 has remained a Seller's Market.
Key Takeaway
55435 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55435, MN
How much do homes in 55435, MN cost?
Median Sold Price
$235,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55435 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 55435 was $235,000 in April 2024, up 3.1% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137K | $140K | +2.2% |
| 2 Bedrooms | $208K | $220K | +5.8% |
| 3 Bedrooms | $505K | $500K | -1.0% |
| 4 Bedrooms | $701K | $741K | +5.7% |
| 5+ Bedrooms | $815.5K | $850K | +4.2% |
Summary: 55435 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 5.8%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 4.2%.
Housing Supply in 55435, MN
How many homes are available in 55435, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 57 | 71 | +24.6% |
Summary: The 55435 real estate market had 71 homes for sale in April 2024, a 24.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 19 | +46.2% |
| 2 Bedrooms | 29 | 32 | +10.3% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The 55435 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 46.2%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55435, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 55435 in April 2024, up by 6.3% month-over-month. Of the 17 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for 55435, MN
How long does it take to sell a home in 55435, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 33 Days | +55.7% |
Summary: Homes in 55435 had an average of 33 days on market in Apr 2024, up by 55.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55435 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in 55435; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
