Is 55803, 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, 55803 has remained a Seller's Market.
Key Takeaway
55803 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55803, MN
How much do homes in 55803, MN cost?
Median Sold Price
$323,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 55803 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 55803 was $323,000 in March 2024, up 2.9% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $135K | N/A |
| 2 Bedrooms | $213.7K | $270K | +26.3% |
| 3 Bedrooms | $318.5K | $326K | +2.4% |
| 4 Bedrooms | $452K | $387.4K | -14.3% |
| 5+ Bedrooms | $452K | $330K | -27.0% |
Summary: 55803 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 26.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 27%.
Housing Supply in 55803, MN
How many homes are available in 55803, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 26 | 0.0% |
Summary: The 55803 real estate market had 26 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 4 | 8 | +100.0% |
| 3 Bedrooms | 17 | 12 | -29.4% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 55803 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 29.4%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55803, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55803 in March 2024, down by 33.3% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for 55803, MN
How long does it take to sell a home in 55803, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 11 Days | -66.2% |
Summary: Homes in 55803 had an average of 11 days on market in Mar 2024, down by 66.2% compared to last year.
Breakdown of Home Sale Times
6 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 55803 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 55803; 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.
