Is 55447, 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, 55447 has remained a Seller's Market.
Key Takeaway
55447 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55447, MN
How much do homes in 55447, MN cost?
Median Sold Price
$447,250
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55447 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 55447 was $447,250 in April 2024, up 4.8% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $174.7K | N/A |
| 2 Bedrooms | $270K | $278K | +3.0% |
| 3 Bedrooms | $411K | $428K | +4.1% |
| 4 Bedrooms | $510K | $544.5K | +6.8% |
| 5+ Bedrooms | $659K | $650K | -1.4% |
Summary: 55447 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 1.4%.
Housing Supply in 55447, MN
How many homes are available in 55447, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 66 | 85 | +28.8% |
Summary: The 55447 real estate market had 85 homes for sale in April 2024, a 28.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 20 | 25 | +25.0% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 14 | 23 | +64.3% |
| 5+ Bedrooms | 13 | 19 | +46.2% |
Summary: The 55447 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 46.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 23 | +43.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55447, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 55447 in April 2024, up by 43.8% month-over-month. Of the 23 sold homes, 43% were sold under asking, 13% were sold at asking, and 43% were sold over asking.
Days on Market for 55447, MN
How long does it take to sell a home in 55447, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 24 Days | -10.8% |
Summary: Homes in 55447 had an average of 24 days on market in Apr 2024, down by 10.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55447 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in 55447; 70% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
