Is 55709, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55709 was a Seller's Market.
Key Takeaway
55709 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55709, MN
How much do homes in 55709, MN cost?
Median Sold Price
$203,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55709 have sold for 9.8% less than they did a year ago.
Summary: The median home sold price in 55709 was $203,000 in March 2024, down 9.8% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.4K | $189.5K | +9.9% |
| 2 Bedrooms | $199.9K | $145K | -27.5% |
| 3 Bedrooms | $235K | $210K | -10.6% |
| 4 Bedrooms | $225K | $236K | +4.9% |
| 5+ Bedrooms | - | $289K | N/A |
Summary: 55709 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes decreased by 27.5%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes did not change.
Housing Supply in 55709, MN
How many homes are available in 55709, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The 55709 real estate market had 13 homes for sale in March 2024, a 18.2% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55709 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 decreased by 50%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55709, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 55709 in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 55709, MN
How long does it take to sell a home in 55709, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 77 Days | +79.1% |
Summary: Homes in 55709 had an average of 77 days on market in Mar 2024, up by 79.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55709 has remained consistent over time.
Summary: During March 2024, 2 homes were sold in 55709; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
