Is 55901, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55901 is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, 55901 has remained a Seller's Market.

Key Takeaway

55901 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 55901, MN cost?

Median Sold Price

$282,714

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$27,279(+10.7%)

Key Takeaway

Homes in 55901 have sold for 10.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $58K$96.9K
+67.2%
2 $180.6K$197.1K
+9.2%
3 $232.6K$255K
+9.6%
4 $284.8K$318.4K
+11.8%
5+ $355K$382K
+7.6%

Median Sold Price Compared To Nearby Zip Codes

55902
+14.0%
55901
+10.7%
55906
+7.4%

How many homes are available in 55901, MN?

Number of Homes For Sale

Nov 2021Dec 2021%
216190-12.0%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 13
+200.0%
2 3833
-13.2%
3 6452
-18.8%
4 9078
-13.3%
5+ 2324
+4.3%

Number of Homes Sold

Nov 2021Dec 2021%
6989+29.0%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55901, you could pay more than the asking price. 37.1% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
25 Days23 Days-8.0%

Breakdown of Home Sale Times

64 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55901 are selling fast, if you're buying plan to act quickly.

About 55901, MN

55901, MN has 190 homes on the market. In December 2021 in 55901, MN there were 12% less homes for sale than in November 2021. While the average time on the market in December 2021 was 23 days, the median list price was $282,714. Real estate listing prices changed between November 2021 and December 2021: the cost of 1 bedroom properties went up by 67.2%, the cost of 2 bedrooms properties went up by 9.2%, prices of 3 bedrooms properties increased by 9.6%, the cost of 4 bedrooms properties went up by 11.8%, prices of 5 bedrooms properties increased by 7.6%. This housing market inventory have changed: number of 1 bedroom homes increased by 200%, 2 bedrooms homes became 13.2% less available, volume of 3 bedrooms homes went down by 18.8%, 4 bedrooms homes became 13.3% less available, the quantity of 5 bedrooms homes went up by 4.3%. While more than 33 listings in 55901, MN in December 2021 were sold above asking price, there were more than 26 listings sold at asking price, and more than 30 were sold below.