Is 55413, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 55413 was a Seller's Market.
Key Takeaway
55413 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55413, MN
How much do homes in 55413, MN cost?
Median Sold Price
$338,750
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 55413 have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in 55413 was $338,750 in May 2024, down 5.1% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $246.9K | $222.5K | -9.9% |
| 2 Bedrooms | $330K | $333K | +0.9% |
| 3 Bedrooms | $380K | $384.2K | +1.1% |
| 4 Bedrooms | $397.5K | $365K | -8.2% |
| 5+ Bedrooms | $520K | $350K | -32.7% |
Summary: 55413 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes decreased by 32.7%.
Housing Supply in 55413, MN
How many homes are available in 55413, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 53 | +55.9% |
Summary: The 55413 real estate market had 53 homes for sale in May 2024, a 55.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 16 | +60.0% |
| 2 Bedrooms | 12 | 18 | +50.0% |
| 3 Bedrooms | 8 | 12 | +50.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55413 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55413, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55413 in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 55413, MN
How long does it take to sell a home in 55413, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 27 Days | +67.1% |
Summary: Homes in 55413 had an average of 27 days on market in May 2024, up by 67.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55413 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in 55413; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
