Is 55448, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 55448 has remained a Seller's Market.
Key Takeaway
55448 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55448, MN
How much do homes in 55448, MN cost?
Median Sold Price
$335,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 55448 have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in 55448 was $335,000 in May 2024, up 4.1% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $123.2K | N/A |
| 2 Bedrooms | $235K | $238.4K | +1.5% |
| 3 Bedrooms | $309K | $325K | +5.2% |
| 4 Bedrooms | $351K | $389.5K | +11.0% |
| 5+ Bedrooms | $410K | $417.5K | +1.8% |
Summary: 55448 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 1.8%.
Housing Supply in 55448, MN
How many homes are available in 55448, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 91 | 107 | +17.6% |
Summary: The 55448 real estate market had 107 homes for sale in May 2024, a 17.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 25 | 28 | +12.0% |
| 3 Bedrooms | 29 | 39 | +34.5% |
| 4 Bedrooms | 34 | 35 | +2.9% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 55448 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 31 | +34.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55448, you could pay more than the asking price. 64.5% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in 55448 in May 2024, up by 34.8% month-over-month. Of the 31 sold homes, 10% were sold under asking, 26% were sold at asking, and 65% were sold over asking.
Days on Market for 55448, MN
How long does it take to sell a home in 55448, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 17 Days | +17.3% |
Summary: Homes in 55448 had an average of 17 days on market in May 2024, up by 17.3% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55448 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in 55448; 81% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
