$7,471 Closing Credit*
$629,145
2,656 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55024, 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, 55024 has remained a Seller's Market.
Key Takeaway
55024 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55024, MN
How much do homes in 55024, MN cost?
Median Sold Price
$424,747
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$37,510(+9.7%)
Key Takeaway
Homes in 55024 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 55024 was $424,747 in October 2024, up 9.7% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150.5K | - | N/A |
| 2 Bedrooms | $269K | $271.5K | +0.9% |
| 3 Bedrooms | $369.9K | $384.9K | +4.1% |
| 4 Bedrooms | $424.9K | $450K | +5.9% |
| 5+ Bedrooms | $511.2K | $524K | +2.5% |
Summary: 55024 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 0.9%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 2.5%.
Housing Supply in 55024, MN
How many homes are available in 55024, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 274 | 312 | +13.9% |
Summary: The 55024 real estate market had 312 homes for sale in October 2024, a 13.9% 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 | 51 | 51 | 0.0% |
| 3 Bedrooms | 98 | 109 | +11.2% |
| 4 Bedrooms | 70 | 90 | +28.6% |
| 5+ Bedrooms | 55 | 62 | +12.7% |
Summary: The 55024 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 11.2%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 12.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 62 | +55.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55024, you could pay more than the asking price. 37.1% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in 55024 in October 2024, up by 55.0% month-over-month. Of the 62 sold homes, 35% were sold under asking, 27% were sold at asking, and 37% were sold over asking.
Days on Market for 55024, MN
How long does it take to sell a home in 55024, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 26 Days | +25.1% |
Summary: Homes in 55024 had an average of 26 days on market in Oct 2024, up by 25.1% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55024 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 62 homes were sold in 55024; 65% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
