Is 55009, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55009 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55009 has remained a Seller's Market.

Key Takeaway

55009 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55009, MN

How much do homes in 55009, MN cost?

Median Sold Price

$356,250

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,250(+2.1%)

Key Takeaway

Homes in 55009 have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in 55009 was $356,250 in October 2024, up 2.1% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $272.5K$312K
+14.5%
3 $355K$326.2K
-8.1%
4 $350K$390K
+11.4%
5+ $476.2K$367.7K
-22.8%

Summary: 55009 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 14.5%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 22.8%.

Median Sold Price Compared To Nearby Zip Codes

55009
+2.1%
55089
-21.4%

Housing Supply in 55009, MN

How many homes are available in 55009, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
36360.0%

Summary: The 55009 real estate market had 36 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1310
-23.1%
4 1517
+13.3%
5+ 34
+33.3%

Summary: The 55009 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 decreased by 23.1%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55009, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 55009 in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for 55009, MN

How long does it take to sell a home in 55009, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days56 Days+103.6%

Summary: Homes in 55009 had an average of 56 days on market in Oct 2024, up by 103.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55009 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 55009; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55009, MN

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