$6,531 Closing Credit*
$550,000
3,723 SqFt
5 Beds
•2 Full Baths, 1 Partial
Listing Office: Edina Realty, Inc.
Is 55020, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55020 was a Seller's Market.
Key Takeaway
55020 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55020, MN
How much do homes in 55020, MN cost?
Median Sold Price
$477,500
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$22,450(-4.5%)
Key Takeaway
Homes in 55020 have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in 55020 was $477,500 in October 2024, down 4.5% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $415K | $209.5K | -49.5% |
| 3 Bedrooms | $462.4K | $415K | -10.3% |
| 4 Bedrooms | $499.9K | $523.5K | +4.7% |
| 5+ Bedrooms | $619.5K | $502K | -19.0% |
Summary: 55020 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 49.5%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes decreased by 19%.
Housing Supply in 55020, MN
How many homes are available in 55020, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 27 | +17.4% |
Summary: The 55020 real estate market had 27 homes for sale in October 2024, a 17.4% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The 55020 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 10%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55020, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55020 in October 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 55020, MN
How long does it take to sell a home in 55020, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +43.2% |
Summary: Homes in 55020 had an average of 36 days on market in Oct 2024, up by 43.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55020 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 55020; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
