$29,900
Land
Listing Office: eXp Realty
Is 55041, 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, 55041 has remained a Seller's Market.
Key Takeaway
55041 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55041, MN
How much do homes in 55041, MN cost?
Median Sold Price
$303,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,000(+2.7%)
Key Takeaway
Homes in 55041 have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in 55041 was $303,000 in October 2024, up 2.7% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $272.5K | $216.9K | -20.4% |
| 2 Bedrooms | $279.9K | $261.5K | -6.6% |
| 3 Bedrooms | $270K | $301.9K | +11.8% |
| 4 Bedrooms | $360K | $410K | +13.9% |
| 5+ Bedrooms | $412.5K | $405K | -1.8% |
Summary: 55041 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.4%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes decreased by 1.8%.
Housing Supply in 55041, MN
How many homes are available in 55041, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 47 | +11.9% |
Summary: The 55041 real estate market had 47 homes for sale in October 2024, a 11.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 9 | 12 | +33.3% |
| 3 Bedrooms | 17 | 15 | -11.8% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55041 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 11.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55041, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 55041 in October 2024, up by 33.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 25% were sold at asking, and 8% were sold over asking.
Days on Market for 55041, MN
How long does it take to sell a home in 55041, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 49 Days | +367.2% |
Summary: Homes in 55041 had an average of 49 days on market in Oct 2024, up by 367.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55041 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in 55041; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
