Is 55449, 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, 55449 has remained a Seller's Market.
Key Takeaway
55449 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55449, MN
How much do homes in 55449, MN cost?
Median Sold Price
$410,077
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55449 have sold for 5.6% less than they did a year ago.
Summary: The median home sold price in 55449 was $410,077 in March 2024, down 5.6% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $285K | $295K | +3.5% |
| 3 Bedrooms | $389.3K | $364.9K | -6.3% |
| 4 Bedrooms | $490K | $490K | 0.0% |
| 5+ Bedrooms | $599.9K | $614.9K | +2.5% |
Summary: 55449 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 increased by 3.5%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 2.5%.
Housing Supply in 55449, MN
How many homes are available in 55449, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 223 | 244 | +9.4% |
Summary: The 55449 real estate market had 244 homes for sale in March 2024, a 9.4% 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 | 22 | 23 | +4.5% |
| 3 Bedrooms | 81 | 84 | +3.7% |
| 4 Bedrooms | 75 | 83 | +10.7% |
| 5+ Bedrooms | 45 | 54 | +20.0% |
Summary: The 55449 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 4.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 58 | +26.1% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55449, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in 55449 in March 2024, up by 26.1% month-over-month. Of the 58 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for 55449, MN
How long does it take to sell a home in 55449, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 31 Days | -27.5% |
Summary: Homes in 55449 had an average of 31 days on market in Mar 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55449 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 58 homes were sold in 55449; 67% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
