Is 55940, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 55940 was a Neutral Market.
Key Takeaway
55940 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55940, MN
How much do homes in 55940, MN cost?
Median Sold Price
$259,950
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55940 have sold for 26.8% more than they did a year ago.
Summary: The median home sold price in 55940 was $259,950 in April 2024, up 26.8% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $149.9K | $139.9K | -6.7% |
| 3 Bedrooms | $199.9K | $248K | +24.1% |
| 4 Bedrooms | $224.9K | $354.5K | +57.6% |
| 5+ Bedrooms | $447.4K | $480K | +7.3% |
Summary: 55940 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 57.6%, and 5+ bedroom homes increased by 7.3%.
Housing Supply in 55940, MN
How many homes are available in 55940, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The 55940 real estate market had 10 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55940 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55940, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 55940 in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for 55940, MN
How long does it take to sell a home in 55940, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 31 Days | +183.6% |
Summary: Homes in 55940 had an average of 31 days on market in Apr 2024, up by 183.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55940 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 55940; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
