$6,234 Closing Credit*
$525,000
2,780 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Edina Realty, Inc.
Is 55001, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55001 was a Seller's Market.
Key Takeaway
55001 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55001, MN
How much do homes in 55001, MN cost?
Median Sold Price
$726,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$49,000(+7.2%)
Key Takeaway
Homes in 55001 have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in 55001 was $726,000 in November 2024, up 7.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $455.5K | - | N/A |
| 3 Bedrooms | $639K | $620K | -3.0% |
| 4 Bedrooms | $992.5K | $894.3K | -9.9% |
| 5+ Bedrooms | $755K | $890K | +17.9% |
Summary: 55001 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes increased by 17.9%.
Housing Supply in 55001, MN
How many homes are available in 55001, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Summary: The 55001 real estate market had 15 homes for sale in November 2024, a 11.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55001 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55001, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 55001 in November 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 55001, MN
How long does it take to sell a home in 55001, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 32 Days | +102.1% |
Summary: Homes in 55001 had an average of 32 days on market in Nov 2024, up by 102.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55001 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in 55001; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
