Is 55014, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55014 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55014 has remained a Seller's Market.

Key Takeaway

55014 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55014, MN

How much do homes in 55014, MN cost?

Median Sold Price

$365,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,000(+3.1%)

Key Takeaway

Homes in 55014 have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in 55014 was $365,000 in October 2024, up 3.1% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $260K$262K
+0.8%
3 $332K$343K
+3.3%
4 $404.3K$405.5K
0.3%
5+ $475K$434.9K
-8.4%

Summary: 55014 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 0.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 8.4%.

Median Sold Price Compared To Nearby Zip Codes

55126
+13.9%
55449
+9.5%
55014
+3.1%
55025
+2.0%
55038
-3.8%

Housing Supply in 55014, MN

How many homes are available in 55014, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8286+4.9%

Summary: The 55014 real estate market had 86 homes for sale in October 2024, a 4.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 814
+75.0%
3 3940
+2.6%
4 2118
-14.3%
5+ 1414
0.0%

Summary: The 55014 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 75%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2227+22.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55014, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in 55014 in October 2024, up by 22.7% month-over-month. Of the 27 sold homes, 44% were sold under asking, 26% were sold at asking, and 30% were sold over asking.

Days on Market for 55014, MN

How long does it take to sell a home in 55014, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days40 Days+187.0%

Summary: Homes in 55014 had an average of 40 days on market in Oct 2024, up by 187% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55014 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 27 homes were sold in 55014; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 55014, MN

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