Is 55812, 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, 55812 was a Neutral Market.
Key Takeaway
55812 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55812, MN
How much do homes in 55812, MN cost?
Median Sold Price
$550,000
$195/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 55812 have sold for 83.6% more than they did a month ago.
Summary: The median home sold price in 55812 was $550,000 in March 2024, up 83.6% from last month, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $454K | $850K | +87.2% |
| 3 Bedrooms | - | $417.5K | N/A |
| 4 Bedrooms | - | $550K | N/A |
| 5+ Bedrooms | $299.5K | $855K | +185.5% |
Summary: 55812 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 87.2%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 185.5%.
Housing Supply in 55812, MN
How many homes are available in 55812, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 24 | +33.3% |
Summary: The 55812 real estate market had 24 homes for sale in March 2024, a 33.3% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The 55812 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 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55812, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 55812 in March 2024, up by 166.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for 55812, MN
How long does it take to sell a home in 55812, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 Days | 19 Days | +631.3% |
Summary: Homes in 55812 had an average of 19 days on market in Mar 2024, up by 631.3% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55812 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 55812; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
