Is 55906, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 55906 was a Seller's Market.
Housing Prices in 55906, MN
How much do homes in 55906, MN cost?
Median Sold Price
$350,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55906 was $350,000 in March 2024, down 7.8% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138.1K | $141K | +2.1% |
2 Bedrooms | $236K | $218.7K | -7.3% |
3 Bedrooms | $263K | $280K | +6.5% |
4 Bedrooms | $470K | $410K | -12.8% |
5+ Bedrooms | $550K | $615K | +11.8% |
Summary: 55906 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Zip Codes
55960 | $415K | $515K | +24.1% |
55901 | $304.9K | $306.9K | +0.6% |
55906 | $379.5K | $350K | -7.8% |
Housing Supply in 55906, MN
How many homes are available in 55906, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 99 | +43.5% |
Summary: The 55906 real estate market had 99 homes for sale in March 2024, a 43.5% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 18 | 24 | +33.3% |
4 Bedrooms | 31 | 48 | +54.8% |
5+ Bedrooms | 14 | 21 | +50.0% |
Summary: The 55906 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 33.3%, 4 bedroom homes increased by 54.8%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 11 | -21.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 55906 in March 2024, down by 21.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 0% were sold at asking, and 45% were sold over asking.
Days on Market for 55906, MN
How long does it take to sell a home in 55906, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 86 Days | +92.8% |
Summary: Homes in 55906 had an average of 86 days on market in Mar 2024, up by 92.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 55906; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.