Is 55987, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 55987 has remained a Seller's Market.
Housing Prices in 55987, MN
How much do homes in 55987, MN cost?
Median Sold Price
$222,200
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 55987 was $222,200 in March 2024, up 13.9% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $137.5K | $124K | -9.8% |
2 Bedrooms | $159.5K | $172K | +7.8% |
3 Bedrooms | $199.7K | $220K | +10.2% |
4 Bedrooms | $265K | $300K | +13.2% |
5+ Bedrooms | $229.9K | $320K | +39.2% |
Summary: 55987 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.8%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 39.2%.
Median Sold Price Compared To Nearby Zip Codes
55987 | $195K | $222.2K | +13.9% |
55959 | $322K | $345K | +7.1% |
Housing Supply in 55987, MN
How many homes are available in 55987, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
60 | 77 | +28.3% |
Summary: The 55987 real estate market had 77 homes for sale in March 2024, a 28.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 10 | 10 | 0.0% |
3 Bedrooms | 34 | 41 | +20.6% |
4 Bedrooms | 7 | 16 | +128.6% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 55987 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20.6%, 4 bedroom homes increased by 128.6%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 20 | +122.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 55987 in March 2024, up by 122.2% month-over-month. Of the 20 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.
Days on Market for 55987, MN
How long does it take to sell a home in 55987, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
53 Days | 17 Days | -67.0% |
Summary: Homes in 55987 had an average of 17 days on market in Mar 2024, down by 67% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 20 homes were sold in 55987; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.