Is 55448, 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, 55448 has remained a Seller's Market.
Key Takeaway
55448 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55448, MN
How much do homes in 55448, MN cost?
Median Sold Price
$335,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55448 have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in 55448 was $335,000 in March 2024, up 3.8% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $123.2K | N/A |
| 2 Bedrooms | $239.4K | $236K | -1.4% |
| 3 Bedrooms | $315K | $325K | +3.2% |
| 4 Bedrooms | $353K | $375K | +6.2% |
| 5+ Bedrooms | $410K | $420K | +2.4% |
Summary: 55448 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 decreased by 1.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 2.4%.
Housing Supply in 55448, MN
How many homes are available in 55448, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 60 | 72 | +20.0% |
Summary: The 55448 real estate market had 72 homes for sale in March 2024, a 20.0% 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 | 20 | +33.3% |
| 3 Bedrooms | 18 | 27 | +50.0% |
| 4 Bedrooms | 25 | 23 | -8.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55448 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 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 17 | -22.7% |
Asking Price vs. Sold Price
4 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 55448, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 55448 in March 2024, down by 22.7% month-over-month. Of the 17 sold homes, 24% were sold under asking, 18% were sold at asking, and 59% were sold over asking.
Days on Market for 55448, MN
How long does it take to sell a home in 55448, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 23 Days | -26.4% |
Summary: Homes in 55448 had an average of 23 days on market in Mar 2024, down by 26.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55448 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in 55448; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
