Is 55446, 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, 55446 has remained a Seller's Market.
Key Takeaway
55446 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55446, MN
How much do homes in 55446, MN cost?
Median Sold Price
$661,015
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55446 have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in 55446 was $661,015 in March 2024, up 14.8% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.8K | $171K | +18.1% |
| 2 Bedrooms | $280K | $282.5K | +0.9% |
| 3 Bedrooms | $420K | $428K | +1.9% |
| 4 Bedrooms | $650K | $698K | +7.4% |
| 5+ Bedrooms | $854.7K | $950K | +11.1% |
Summary: 55446 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 11.1%.
Housing Supply in 55446, MN
How many homes are available in 55446, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 130 | 148 | +13.8% |
Summary: The 55446 real estate market had 148 homes for sale in March 2024, a 13.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 17 | +13.3% |
| 3 Bedrooms | 35 | 40 | +14.3% |
| 4 Bedrooms | 31 | 30 | -3.2% |
| 5+ Bedrooms | 49 | 61 | +24.5% |
Summary: The 55446 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 13.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 24.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55446, you could pay more than the asking price. 48% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 55446 in March 2024, up by 8.7% month-over-month. Of the 25 sold homes, 44% were sold under asking, 8% were sold at asking, and 48% were sold over asking.
Days on Market for 55446, MN
How long does it take to sell a home in 55446, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 32 Days | -1.4% |
Summary: Homes in 55446 had an average of 32 days on market in Mar 2024, down by 1.4% compared to last year.
Breakdown of Home Sale Times
18 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 55446 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 55446; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
