Is 55411, 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, 55411 has remained a Seller's Market.
Key Takeaway
55411 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55411, MN
How much do homes in 55411, MN cost?
Median Sold Price
$225,000
$142/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in 55411 has remained the same since last year.
Summary: The median home sold price in 55411 was $225,000 in April 2024, the same as last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | - | N/A |
| 2 Bedrooms | $193K | $160K | -17.1% |
| 3 Bedrooms | $217.5K | $220K | +1.1% |
| 4 Bedrooms | $243.7K | $250.5K | +2.8% |
| 5+ Bedrooms | $280K | $254K | -9.3% |
Summary: 55411 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 17.1%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in 55411, MN
How many homes are available in 55411, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 107 | 109 | +1.9% |
Summary: The 55411 real estate market had 109 homes for sale in April 2024, a 1.9% 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 | 16 | 13 | -18.8% |
| 3 Bedrooms | 47 | 55 | +17.0% |
| 4 Bedrooms | 34 | 34 | 0.0% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The 55411 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 decreased by 18.8%, 3 bedroom homes increased by 17%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 31 | +14.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55411, you may be able to get a good deal. 41.9% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 55411 in April 2024, up by 14.8% month-over-month. Of the 31 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% were sold over asking.
Days on Market for 55411, MN
How long does it take to sell a home in 55411, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 48 Days | +29.5% |
Summary: Homes in 55411 had an average of 48 days on market in Apr 2024, up by 29.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55411 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 31 homes were sold in 55411; 52% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
