Is 55718, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55718 was a Seller's Market.
Key Takeaway
55718 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 55718, MN
How much do homes in 55718, MN cost?
Median Sold Price
$312,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55718 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 55718 was $312,500 in April 2024, up 4.2% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $137K | -31.5% |
| 2 Bedrooms | $214K | $190K | -11.2% |
| 3 Bedrooms | $310K | $340K | +9.7% |
| 4 Bedrooms | $335K | $370K | +10.4% |
| 5+ Bedrooms | - | $547K | N/A |
Summary: 55718 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.5%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes did not change.
Housing Supply in 55718, MN
How many homes are available in 55718, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Summary: The 55718 real estate market had 12 homes for sale in April 2024, a 14.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55718 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55718, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in 55718 in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 55718, MN
How long does it take to sell a home in 55718, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 18 Days | -33.3% |
Summary: Homes in 55718 had an average of 18 days on market in Apr 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55718 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 55718; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
