$4,274 Closing Credit*
$359,900
2,500 SqFt
4 Beds
•2 Full Baths
Listing Office: Ben Olsen Realty LLC
Is 55027, 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, 55027 has remained a Seller's Market.
Key Takeaway
55027 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55027, MN
How much do homes in 55027, MN cost?
Median Sold Price
$368,975
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$77,025(+26.4%)
Key Takeaway
Homes in 55027 have sold for 26.4% more than they did a year ago.
Summary: The median home sold price in 55027 was $368,975 in October 2024, up 26.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $293.9K | $356.3K | +21.2% |
| 3 Bedrooms | $248.4K | $389.2K | +56.7% |
| 4 Bedrooms | $295K | $369K | +25.1% |
| 5+ Bedrooms | $407.5K | $1.1M | +188.3% |
Summary: 55027 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 21.2%, 3 bedroom homes increased by 56.7%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes increased by 188.3%.
Housing Supply in 55027, MN
How many homes are available in 55027, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Summary: The 55027 real estate market had 9 homes for sale in October 2024, a 12.5% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55027 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 remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55027, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 55027 in October 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for 55027, MN
How long does it take to sell a home in 55027, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 98 Days | +935.1% |
Summary: Homes in 55027 had an average of 98 days on market in Oct 2024, up by 935.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 55027 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 3 homes were sold in 55027; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
