Is 55981, 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, 55981 has remained a Seller's Market.
Key Takeaway
55981 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55981, MN
How much do homes in 55981, MN cost?
Median Sold Price
$245,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 55981 have sold for 7.4% less than they did a year ago.
Summary: The median home sold price in 55981 was $245,000 in April 2024, down 7.4% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $226.5K | +105.9% |
| 2 Bedrooms | $264.4K | $253.9K | -4.0% |
| 3 Bedrooms | $257.5K | $225K | -12.6% |
| 4 Bedrooms | $367K | $295K | -19.6% |
| 5+ Bedrooms | - | $352.5K | N/A |
Summary: 55981 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 105.9%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes did not change.
Housing Supply in 55981, MN
How many homes are available in 55981, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The 55981 real estate market had 23 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 11 | 13 | +18.2% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55981 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55981, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in 55981 in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for 55981, MN
How long does it take to sell a home in 55981, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 109 Days | 51 Days | -53.0% |
Summary: Homes in 55981 had an average of 51 days on market in Apr 2024, down by 53% 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 55981 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in 55981; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
