$4,513 Closing Credit*
$380,000
2,269 SqFt
5 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 55005, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 55005 has remained a Seller's Market.
Key Takeaway
55005 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55005, MN
How much do homes in 55005, MN cost?
Median Sold Price
$409,950
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,700(+6.1%)
Key Takeaway
Homes in 55005 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 55005 was $409,950 in October 2024, up 6.1% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $290K | N/A |
| 2 Bedrooms | $309.9K | $327.5K | +5.7% |
| 3 Bedrooms | $340K | $386.3K | +13.6% |
| 4 Bedrooms | $420.9K | $460K | +9.3% |
| 5+ Bedrooms | $434K | $430K | -0.9% |
Summary: 55005 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 5.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 55005, MN
How many homes are available in 55005, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The 55005 real estate market had 23 homes for sale in October 2024, a 4.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 55005 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 increased by 33.3%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55005, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55005 in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for 55005, MN
How long does it take to sell a home in 55005, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 36 Days | +237.5% |
Summary: Homes in 55005 had an average of 36 days on market in Oct 2024, up by 237.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55005 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 55005; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
