Is 55811, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 55811 has remained a Seller's Market.
Key Takeaway
55811 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55811, MN
How much do homes in 55811, MN cost?
Median Sold Price
$359,500
$193/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in 55811 have sold for 3.2% more than they did a month ago.
Summary: The median home sold price in 55811 was $359,500 in April 2024, up 3.2% from last month, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $255K | -17.7% |
| 3 Bedrooms | $329K | $339K | +3.0% |
| 4 Bedrooms | $555K | $400K | -27.9% |
| 5+ Bedrooms | $975K | $1.2M | +23.1% |
Summary: 55811 housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.7%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 27.9%, and 5+ bedroom homes increased by 23.1%.
Median Sold Price Compared To Nearby Zip Codes
| 55806 | $175.5K | $215K | +22.5% |
| 55811 | $348.5K | $359.5K | +3.2% |
| 55807 | $216K | $199.1K | -7.8% |
| 55805 | $190K | $165K | -13.2% |
| 55812 | $550K | $292K | -46.9% |
Housing Supply in 55811, MN
How many homes are available in 55811, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 64 | 84 | +31.3% |
Summary: The 55811 real estate market had 84 homes for sale in April 2024, a 31.3% 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 | 12 | 15 | +25.0% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 19 | 29 | +52.6% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The 55811 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 increased by 25%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 52.6%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 27 | +92.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55811, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 55811 in April 2024, up by 92.9% month-over-month. Of the 26 sold homes, 23% were sold under asking, 23% were sold at asking, and 54% were sold over asking.
Days on Market for 55811, MN
How long does it take to sell a home in 55811, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -23.6% |
Summary: Homes in 55811 had an average of 16 days on market in Apr 2024, down by 23.6% compared to last month.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55811 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in 55811; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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