Is 55741, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 55741 has remained a Seller's Market.
Key Takeaway
55741 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55741, MN
How much do homes in 55741, MN cost?
Median Sold Price
$195,950
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 55741 have sold for 32.7% less than they did a year ago.
Summary: The median home sold price in 55741 was $195,950 in May 2024, down 32.7% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $125K | N/A |
| 2 Bedrooms | $189.9K | $127K | -33.1% |
| 3 Bedrooms | $291.2K | $280K | -3.9% |
| 4 Bedrooms | $374.5K | $199.9K | -46.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: 55741 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 33.1%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 46.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55734 | $142.5K | $265K | +86.0% |
| 55792 | $135.4K | $117K | -13.6% |
| 55741 | $291.2K | $195.9K | -32.7% |
Housing Supply in 55741, MN
How many homes are available in 55741, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The 55741 real estate market had 10 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55741 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55741, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 55741 in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 55741, MN
How long does it take to sell a home in 55741, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 162 Days | 106 Days | -34.4% |
Summary: Homes in 55741 had an average of 106 days on market in May 2024, down by 34.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55741 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in 55741; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
