Is 55904, 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, 55904 has remained a Seller's Market.
Key Takeaway
55904 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55904, MN
How much do homes in 55904, MN cost?
Median Sold Price
$254,933
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 55904 has remained the same since last year.
Summary: The median home sold price in 55904 was $254,933 in March 2024, down 0.2% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157.5K | $170K | +7.9% |
| 2 Bedrooms | $220K | $215K | -2.3% |
| 3 Bedrooms | $238K | $245K | +2.9% |
| 4 Bedrooms | $327K | $353.4K | +8.1% |
| 5+ Bedrooms | $409.9K | $358K | -12.7% |
Summary: 55904 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 12.7%.
Housing Supply in 55904, MN
How many homes are available in 55904, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 85 | 89 | +4.7% |
Summary: The 55904 real estate market had 89 homes for sale in March 2024, a 4.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 27 | 33 | +22.2% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 55904 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 14.3%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 24 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55904, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 24 homes were sold or pending in 55904 in March 2024, down by 25.0% month-over-month. Of the 24 sold homes, 17% were sold under asking, 42% were sold at asking, and 42% were sold over asking.
Days on Market for 55904, MN
How long does it take to sell a home in 55904, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 38 Days | -1.0% |
Summary: Homes in 55904 had an average of 38 days on market in Mar 2024, down by 1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55904 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in 55904; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
