$6,472 Closing Credit*
$545,000
2,301 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: RE/MAX Results
Is 55011, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $342.5K | $325K | -5.1% |
| 3 Bedrooms | $394.4K | $407.4K | +3.3% |
| 4 Bedrooms | $450K | $482K | +7.1% |
| 5+ Bedrooms | $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%.
Housing Supply in 55011, MN
How many homes are available in 55011, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 63 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 17 | 26 | +52.9% |
| 4 Bedrooms | 26 | 25 | -3.8% |
| 5+ Bedrooms | 2 | 4 | +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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 17 | +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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 29 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
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.
