Is 55975, 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, 55975 has remained a Seller's Market.
Key Takeaway
55975 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55975, MN
How much do homes in 55975, MN cost?
Median Sold Price
$225,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55975 have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in 55975 was $225,000 in April 2024, up 18.4% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $177.5K | +10.9% |
| 3 Bedrooms | $190K | $230K | +21.1% |
| 4 Bedrooms | $195K | $275K | +41.0% |
| 5+ Bedrooms | $322.5K | $164.9K | -48.9% |
Summary: 55975 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 increased by 10.9%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 41%, and 5+ bedroom homes decreased by 48.9%.
Housing Supply in 55975, MN
How many homes are available in 55975, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The 55975 real estate market had 4 homes for sale in April 2024, a 20.0% decrease 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 1 | 0 | -100.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55975 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55975, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 55975 in April 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 55975, MN
How long does it take to sell a home in 55975, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 5 Days | -85.2% |
Summary: Homes in 55975 had an average of 5 days on market in Apr 2024, down by 85.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55975 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in 55975; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
