$6,827 Closing Credit*
$574,900
2,922 SqFt
5 Beds
•2 Full Baths, 1 Partial
Listing Office: Re/Max Advantage Plus
Is 55020, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55020 has remained a Seller's Market.
Key Takeaway
55020 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55020, MN
How much do homes in 55020, MN cost?
Median Sold Price
$475,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$37,500(-7.3%)
Key Takeaway
Homes in 55020 have sold for 7.3% less than they did a year ago.
Summary: The median home sold price in 55020 was $475,000 in November 2024, down 7.3% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $345K | $209.5K | -39.3% |
| 3 Bedrooms | $490K | $392K | -20.0% |
| 4 Bedrooms | $537.5K | $547K | +1.8% |
| 5+ Bedrooms | $615K | $475K | -22.8% |
Summary: 55020 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 39.3%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 22.8%.
Housing Supply in 55020, MN
How many homes are available in 55020, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Summary: The 55020 real estate market had 22 homes for sale in November 2024, a 4.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 55020 housing inventory by bedroom type for November 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 22.2%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was 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 November 2024, down by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 47 Days | 46 Days | -1.8% |
Summary: Homes in 55020 had an average of 46 days on market in Nov 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55020 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 55020; 50% 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.
