$450,000
Land
Listing Office: Keller Williams Select Realty
Is 55001, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55001 was a Buyer's Market.
Key Takeaway
55001 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55001, MN
How much do homes in 55001, MN cost?
Median Sold Price
$726,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$53,500(+8.0%)
Key Takeaway
Homes in 55001 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 55001 was $726,000 in October 2024, up 8% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $311K | $600K | +92.9% |
| 3 Bedrooms | $614.5K | $620K | +0.9% |
| 4 Bedrooms | $1.0M | $933.1K | -6.7% |
| 5+ Bedrooms | $716K | $1.1M | +61.7% |
Summary: 55001 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 92.9%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 61.7%.
Housing Supply in 55001, MN
How many homes are available in 55001, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The 55001 real estate market had 18 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55001 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was 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. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 55001 in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 5 Days | 35 Days | +604.0% |
Summary: Homes in 55001 had an average of 35 days on market in Oct 2024, up by 604% compared to last year.
Breakdown of Home Sale Times
3 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 55001 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 55001; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
