Is 55901, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 55901 has remained a Seller's Market.
Housing Prices in 55901, MN
How much do homes in 55901, MN cost?
Median Sold Price
$309,572
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 55901 was $309,572 in February 2024, up 3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95K | $99.7K | +5.0% |
2 Bedrooms | $226K | $230.5K | +2.0% |
3 Bedrooms | $283.5K | $276K | -2.6% |
4 Bedrooms | $339K | $349.3K | +3.0% |
5+ Bedrooms | $411K | $437.8K | +6.5% |
Summary: 55901 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 55901, MN
How many homes are available in 55901, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
158 | 174 | +10.1% |
Summary: The 55901 real estate market had 174 homes for sale in February 2024, a 10.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 33 | 41 | +24.2% |
3 Bedrooms | 40 | 46 | +15.0% |
4 Bedrooms | 68 | 69 | +1.5% |
5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The 55901 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 24.2%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
45 | 53 | +17.8% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in 55901 in February 2024, up by 17.8% month-over-month. Of the 53 sold homes, 51% were sold under asking, 23% were sold at asking, and 26% were sold over asking.
Days on Market for 55901, MN
How long does it take to sell a home in 55901, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
32 Days | 48 Days | +49.2% |
Summary: Homes in 55901 had an average of 48 days on market in Feb 2024, up by 49.2% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During February 2024, 53 homes were sold in 55901; 51% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.