$5,059 Closing Credit*
$426,000
1,629 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55038, 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, 55038 has remained a Seller's Market.
Key Takeaway
55038 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55038, MN
How much do homes in 55038, MN cost?
Median Sold Price
$415,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,300(+0.8%)
Key Takeaway
Homes in 55038 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 55038 was $415,900 in November 2024, up 0.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $284K | $275.2K | -3.1% |
| 3 Bedrooms | $370K | $377.9K | +2.1% |
| 4 Bedrooms | $521.2K | $500K | -4.1% |
| 5+ Bedrooms | $608.7K | $565K | -7.2% |
Summary: 55038 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 3.1%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes decreased by 7.2%.
Housing Supply in 55038, MN
How many homes are available in 55038, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 188 | 188 | 0.0% |
Summary: The 55038 real estate market had 188 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 50 | 45 | -10.0% |
| 3 Bedrooms | 63 | 66 | +4.8% |
| 4 Bedrooms | 43 | 45 | +4.7% |
| 5+ Bedrooms | 32 | 32 | 0.0% |
Summary: The 55038 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 decreased by 10%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 42 | 0.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55038, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in 55038 in November 2024, the same as the previous month. Of the 42 sold homes, 45% were sold under asking, 26% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 31 Days | -17.2% |
Summary: Homes in 55038 had an average of 31 days on market in Nov 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55038 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 42 homes were sold in 55038; 52% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
