$5,344 Closing Credit*
$449,990
1,582 SqFt
3 Beds
•1 Full Bath
Listing Office: Lennar Sales Corp
Is 55038, 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, 55038 was a Seller's Market.
Key Takeaway
55038 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 55038, MN
How much do homes in 55038, MN cost?
Median Sold Price
$409,793
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$16,206(-3.8%)
Key Takeaway
Homes in 55038 have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in 55038 was $409,793 in October 2024, down 3.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $290K | $272.1K | -6.1% |
| 3 Bedrooms | $373.5K | $374.9K | 0.4% |
| 4 Bedrooms | $523.7K | $509.9K | -2.6% |
| 5+ Bedrooms | $605K | $577.5K | -4.5% |
Summary: 55038 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 6.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in 55038, MN
How many homes are available in 55038, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 184 | 213 | +15.8% |
Summary: The 55038 real estate market had 213 homes for sale in October 2024, a 15.8% 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 | 53 | +3.9% |
| 3 Bedrooms | 59 | 71 | +20.3% |
| 4 Bedrooms | 43 | 51 | +18.6% |
| 5+ Bedrooms | 31 | 38 | +22.6% |
Summary: The 55038 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 increased by 3.9%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 22.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 35 | -23.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55038, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in 55038 in October 2024, down by 23.9% month-over-month. Of the 35 sold homes, 40% were sold under asking, 31% were sold at asking, and 29% were sold over asking.
Days on Market for 55038, MN
How long does it take to sell a home in 55038, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 38 Days | +10.6% |
Summary: Homes in 55038 had an average of 38 days on market in Oct 2024, up by 10.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55038 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 35 homes were sold in 55038; 54% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
