$3,205 Closing Credit*
$269,900
792 SqFt
1 Bed
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is 55040, 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, 55040 has remained a Seller's Market.
Key Takeaway
55040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55040, MN
How much do homes in 55040, MN cost?
Median Sold Price
$332,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$3,000(-0.9%)
Key Takeaway
Homes in 55040 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 55040 was $332,000 in November 2024, down 0.9% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $156K | +24.8% |
| 2 Bedrooms | $295K | $268K | -9.2% |
| 3 Bedrooms | $330K | $341.9K | +3.6% |
| 4 Bedrooms | $360K | $324.9K | -9.7% |
| 5+ Bedrooms | $380K | $457.4K | +20.4% |
Summary: 55040 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.8%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes increased by 20.4%.
Housing Supply in 55040, MN
How many homes are available in 55040, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 61 | -9.0% |
Summary: The 55040 real estate market had 61 homes for sale in November 2024, a 9.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 31 | 28 | -9.7% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 55040 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 9.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55040, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 55040 in November 2024, up by 7.1% month-over-month. Of the 15 sold homes, 47% were sold under asking, 47% were sold at asking, and 7% were sold over asking.
Days on Market for 55040, MN
How long does it take to sell a home in 55040, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 29 Days | -10.6% |
Summary: Homes in 55040 had an average of 29 days on market in Nov 2024, down by 10.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55040 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 55040; 53% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
