Is 55940, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55940 is a seller's market

Buyer's
Market

Difference Since February 2022

Since last year, 55940 has remained a Seller's Market.

Key Takeaway

55940 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 55940, MN cost?

Median Sold Price

$209,900

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2022

-$26,100(-11.1%)

Key Takeaway

Homes in 55940 have sold for 11.1% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2022Feb 2023%
1 --
N/A
2 $173K$149.9K
-13.3%
3 $207.5K$204.9K
-1.3%
4 $294.5K$253.4K
-13.9%
5+ $440K$447.4K
+1.7%

Median Sold Price Compared To Nearby Zip Codes

55920
+10.3%
55944
+2.5%
55940
-11.1%

How many homes are available in 55940, MN?

Number of Homes For Sale

Jan 2023Feb 2023%
910+11.1%

Homes For Sale By Bedroom Count

# BEDSJan 2023Feb 2023%
1 00
0.0%
2 00
0.0%
3 44
0.0%
4 45
+25.0%
5+ 11
0.0%

Number of Homes Sold

Jan 2023Feb 2023%
25+150.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55940, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Average Sale Time

Feb 2022Feb 2023%
89 Days79 Days-11.0%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 55940 has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

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TBD Tbd, Oslo, MN 56744

$72,800

Land

20.00 Acres

TBD Tbd, Oslo MN, 56744

Listing Office:

Dakota Plains Realty

#22-4224

MLS logo
717 Center Ave S, Hayfield, MN 55940

$349,900

4

2

1,921 SqFt

717 Center Ave S, Hayfield MN, 55940

Listing Office:

RE/MAX Results

#6332611

MLS logo
500 3rd St SE, Hayfield, MN 55940

$459,900

4

2 Full, 1 Partial

2,809 SqFt

500 3rd St SE, Hayfield MN, 55940

Listing Office:

Tracy Sells LLC

#6333668

MLS logo
TBD 700th St, Canisteo Twp, MN 55940

$990,000

Land

TBD 700th St, Canisteo Twp MN, 55940

Listing Office:

1 Stop Realty

#6332568

MLS logo
TBD State Highway 30, Rock Dell Twp, MN 55940

$1,860,000

Land

TBD State Highway 30, Rock Dell Twp MN, 55940

Listing Office:

1 Stop Realty

#6332684

MLS logo
TBD 720th St, Hayfield, MN 55940

$1,445,000

Land

TBD 720th St, Hayfield MN, 55940

Listing Office:

1 Stop Realty

#6307768

MLS logo
XXX 4th St NW, Hayfield, MN 55940

$45,000

Land

XXX 4th St NW, Hayfield MN, 55940

Listing Office:

Realty Plus LLC

#6252609

MLS logo
921 3rd Ave SE, Hayfield, MN 55940

$274,900

3

2 Full, 1 Partial

1,558 SqFt

921 3rd Ave SE, Hayfield MN, 55940

Listing Office:

South East Minnesota Realty, Inc

#6236897

MLS logo

About 55940, MN

Homes for sale in 55940, MN have reached 10. The inventory of homes for sale in 55940, MN between January 2023 and February 2023 increased by 11.1%. In February 2023, listings were on the market for 79 days. During the same period, the median list price in this real estate market was $209,900. From January 2023 through February 2023, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties went down by 13.3%, the cost of 3 bedrooms properties went down by 1.3%, the cost of 4 bedrooms properties went down by 13.9%, prices of 5 bedrooms properties increased by 1.7%. Housing inventory have changed in this real estate market: 1 bedroom homes did not move, the quantity of 2 bedrooms homes have not changed, 3 bedrooms homes did not move, 4 bedrooms homes inventory increased by 25%, 5 bedrooms homes inventory did not change. In February 2023 more than 1 listings in 55940, MN were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 3 were sold below.

MLS Disclaimers and Copyright

Based on information from NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc., and Fargo Moorhead MLS OLD/Test for the period 03/01/2021 - 03/01/2023

Broker Reciprocity Copyright © 2023 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.

By searching, you agree to the EULA Terms Agreement.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some or all of the property listings above may have been submitted to the Regional Multiple Listing Service (RMLS) by the listing broker for distribution to cooperating brokers through Broker reciprocity. Attribution of the listing broker may be found on the detail page for all properties. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited. No part of this search utility may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise. Home sale information is not an appraisal, competitive or comparative market analysis, CMA or home valuation.

DMCA Notice
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/28/2023, 11:22:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the RMLS. Real estate listings other than this broker are marked with the Broker Reciprocity logo and the view of detailed information about them includes the name of the listing broker. Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All property listing data is Copyright 2001-2023 Fargo-Moorhead Area Association of REALTORS®. No reproduction, compilation, retransmission or distribution of this data is permitted in any manner without the express, written permission of the Fargo-Moorhead Area Association of REALTORS® RMLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/28/2023, 11:21:01 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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