Is 55037, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55037 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55037 has remained a Seller's Market.

Key Takeaway

55037 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55037, MN

How much do homes in 55037, MN cost?

Median Sold Price

$247,750

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$52,750(+27.1%)

Key Takeaway

Homes in 55037 have sold for 27.1% more than they did a year ago.

Summary: The median home sold price in 55037 was $247,750 in October 2024, up 27.1% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $54.2K$41K
-24.4%
2 $231K$120K
-48.1%
3 $260K$263K
+1.2%
4 $232K$265K
+14.2%
5+ -$430K
N/A

Summary: 55037 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.4%, 2 bedroom homes decreased by 48.1%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

55072
+33.9%
55037
+27.1%
54840
+10.2%
55063
+7.1%
54830
+5.8%

Housing Supply in 55037, MN

How many homes are available in 55037, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2225+13.6%

Summary: The 55037 real estate market had 25 homes for sale in October 2024, a 13.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 78
+14.3%
2 34
+33.3%
3 89
+12.5%
4 11
0.0%
5+ 33
0.0%

Summary: The 55037 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
07+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55037, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 55037 in October 2024, up by 100.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for 55037, MN

How long does it take to sell a home in 55037, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
54 Days79 Days+46.5%

Summary: Homes in 55037 had an average of 79 days on market in Oct 2024, up by 46.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 55037 has remained consistent over time.

Summary: During October 2024, 7 homes were sold in 55037; 14% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 29% 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 55037, MN

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