Is 55604, 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, 55604 has remained a Seller's Market.
Key Takeaway
55604 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55604, MN
How much do homes in 55604, MN cost?
Median Sold Price
$475,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55604 have sold for 44% more than they did a year ago.
Summary: The median home sold price in 55604 was $475,000 in April 2024, up 44% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $380K | $272K | -28.4% |
| 2 Bedrooms | $553.3K | $425K | -23.2% |
| 3 Bedrooms | $299.9K | $475K | +58.4% |
| 4 Bedrooms | $270K | $472.5K | +75.0% |
| 5+ Bedrooms | - | $875K | N/A |
Summary: 55604 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.4%, 2 bedroom homes decreased by 23.2%, 3 bedroom homes increased by 58.4%, 4 bedroom homes increased by 75%, and 5+ bedroom homes did not change.
Housing Supply in 55604, MN
How many homes are available in 55604, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The 55604 real estate market had 25 homes for sale in April 2024, a 8.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55604 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55604, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 55604 in April 2024, up by 300.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% were sold over asking.
Days on Market for 55604, MN
How long does it take to sell a home in 55604, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 76 Days | 75 Days | -0.8% |
Summary: Homes in 55604 had an average of 75 days on market in Apr 2024, down by 0.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55604 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in 55604; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
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