Is 55963, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 55963 has remained a Seller's Market.
Key Takeaway
55963 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55963, MN
How much do homes in 55963, MN cost?
Median Sold Price
$350,200
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55963 have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in 55963 was $350,200 in April 2024, up 8.5% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $145K | N/A |
| 2 Bedrooms | $245K | $194K | -20.8% |
| 3 Bedrooms | $330K | $365K | +10.6% |
| 4 Bedrooms | $373.4K | $389.9K | +4.4% |
| 5+ Bedrooms | $437.4K | $545K | +24.6% |
Summary: 55963 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 20.8%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 24.6%.
Median Sold Price Compared To Nearby Zip Codes
| 55955 | $334.4K | $405K | +21.1% |
| 55960 | $472K | $515K | +9.1% |
| 55963 | $322.7K | $350.2K | +8.5% |
| 55992 | $292.9K | $299.9K | +2.4% |
Housing Supply in 55963, MN
How many homes are available in 55963, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The 55963 real estate market had 20 homes for sale in April 2024, a 5.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The 55963 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 remained the same, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55963, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in 55963 in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.
Days on Market for 55963, MN
How long does it take to sell a home in 55963, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 89 Days | 30 Days | -65.8% |
Summary: Homes in 55963 had an average of 30 days on market in Apr 2024, down by 65.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55963 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 55963; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
