Is 55011, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55011 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55011 has remained a Seller's Market.

Key Takeaway

55011 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55011, MN

How much do homes in 55011, MN cost?

Median Sold Price

$447,500

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,500(+1.7%)

Key Takeaway

Homes in 55011 have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in 55011 was $447,500 in October 2024, up 1.7% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $342.5K$325K
-5.1%
3 $394.4K$407.4K
+3.3%
4 $450K$482K
+7.1%
5+ $471.5K$500K
+6.0%

Summary: 55011 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 decreased by 5.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 6%.

Median Sold Price Compared To Nearby Zip Codes

55005
+6.1%
55070
+6.0%
55304
+2.5%
55011
+1.7%
55092
0.0%

Housing Supply in 55011, MN

How many homes are available in 55011, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5363+18.9%

Summary: The 55011 real estate market had 63 homes for sale in October 2024, a 18.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 88
0.0%
3 1726
+52.9%
4 2625
-3.8%
5+ 24
+100.0%

Summary: The 55011 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 increased by 52.9%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1117+54.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55011, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 55011 in October 2024, up by 54.5% month-over-month. Of the 17 sold homes, 41% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for 55011, MN

How long does it take to sell a home in 55011, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days29 Days-7.4%

Summary: Homes in 55011 had an average of 29 days on market in Oct 2024, down by 7.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55011 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 55011; 53% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 6% 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 55011, MN

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