Is 55811, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 55811 was a Neutral Market.
Key Takeaway
55811 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55811, MN
How much do homes in 55811, MN cost?
Median Sold Price
$319,500
$185/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 55811 have sold for 52.2% more than they did a month ago.
Summary: The median home sold price in 55811 was $319,500 in March 2024, up 52.2% from last month, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $149.9K | $273K | +82.1% |
| 3 Bedrooms | $330K | $329K | -0.3% |
| 4 Bedrooms | - | $555K | N/A |
| 5+ Bedrooms | - | $975K | N/A |
Summary: 55811 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 82.1%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55812 | $299.5K | $550K | +83.6% |
| 55811 | $209.9K | $319.5K | +52.2% |
| 55807 | $210.4K | $216K | +2.6% |
| 55806 | $218.2K | $175.5K | -19.6% |
Housing Supply in 55811, MN
How many homes are available in 55811, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 58 | +41.5% |
Summary: The 55811 real estate market had 58 homes for sale in March 2024, a 41.5% 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 | 10 | 10 | 0.0% |
| 3 Bedrooms | 16 | 24 | +50.0% |
| 4 Bedrooms | 12 | 18 | +50.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 55811 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 14 | +133.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55811, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55811 in March 2024, up by 133.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 55811, MN
How long does it take to sell a home in 55811, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 21 Days | -38.5% |
Summary: Homes in 55811 had an average of 21 days on market in Mar 2024, down by 38.5% compared to last month.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55811 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in 55811; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
