Is 55420, 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, 55420 has remained a Seller's Market.
Housing Prices in 55420, MN
How much do homes in 55420, MN cost?
Median Sold Price
$336,250
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 55420 was $336,250 in April 2024, up 3.5% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $191.5K | $145K | -24.3% |
2 Bedrooms | $242.4K | $270K | +11.4% |
3 Bedrooms | $330K | $330K | 0.0% |
4 Bedrooms | $349.9K | $370K | +5.7% |
5+ Bedrooms | $345K | $400K | +15.9% |
Summary: 55420 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.3%, 2 bedroom homes increased by 11.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 15.9%.
Housing Supply in 55420, MN
How many homes are available in 55420, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
42 | 47 | +11.9% |
Summary: The 55420 real estate market had 47 homes for sale in April 2024, a 11.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 9 | 7 | -22.2% |
3 Bedrooms | 24 | 27 | +12.5% |
4 Bedrooms | 7 | 9 | +28.6% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 55420 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in 55420 in April 2024, down by 6.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 29% were sold at asking, and 50% were sold over asking.
Days on Market for 55420, MN
How long does it take to sell a home in 55420, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
36 Days | 18 Days | -48.9% |
Summary: Homes in 55420 had an average of 18 days on market in Apr 2024, down by 48.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in 55420; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.