Is 55438, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 55438 has remained a Seller's Market.
Housing Prices in 55438, MN
How much do homes in 55438, MN cost?
Median Sold Price
$410,333
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 55438 was $410,333 in February 2024, up 2.6% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $160K | +6.7% |
2 Bedrooms | $247K | $251.5K | +1.8% |
3 Bedrooms | $428.7K | $410K | -4.4% |
4 Bedrooms | $510K | $550K | +7.8% |
5+ Bedrooms | $550K | $607.5K | +10.5% |
Summary: 55438 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 1.8%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in 55438, MN
How many homes are available in 55438, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
39 | 42 | +7.7% |
Summary: The 55438 real estate market had 42 homes for sale in February 2024, a 7.7% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 18 | 23 | +27.8% |
3 Bedrooms | 4 | 2 | -50.0% |
4 Bedrooms | 10 | 11 | +10.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 55438 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
14 | 13 | -7.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 55438 in February 2024, down by 7.1% month-over-month. Of the 13 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% were sold over asking.
Days on Market for 55438, MN
How long does it take to sell a home in 55438, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
28 Days | 39 Days | +40.7% |
Summary: Homes in 55438 had an average of 39 days on market in Feb 2024, up by 40.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 13 homes were sold in 55438; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.