Is 55972, 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, 55972 was a Buyer's Market.
Key Takeaway
55972 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55972, MN
How much do homes in 55972, MN cost?
Median Sold Price
$282,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55972 have sold for 17.1% more than they did a year ago.
Summary: The median home sold price in 55972 was $282,500 in April 2024, up 17.1% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $212.2K | $211.4K | -0.4% |
| 3 Bedrooms | $224.9K | $256.9K | +14.2% |
| 4 Bedrooms | $271K | $320K | +18.1% |
| 5+ Bedrooms | $400.9K | $390K | -2.7% |
Summary: 55972 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 0.4%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes decreased by 2.7%.
Median Sold Price Compared To Nearby Zip Codes
| 55972 | $241.2K | $282.5K | +17.1% |
| 55964 | $240K | $267K | +11.3% |
Housing Supply in 55972, MN
How many homes are available in 55972, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Summary: The 55972 real estate market had 14 homes for sale in April 2024, a 27.3% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 55972 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 increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55972, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55972 in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 55972, MN
How long does it take to sell a home in 55972, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 67 Days | +2150.0% |
Summary: Homes in 55972 had an average of 67 days on market in Apr 2024, up by 2150% compared to last year.
Breakdown of Home Sale Times
2 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 55972 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 55972; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
