$7,361 Closing Credit*
$619,900
2,642 SqFt
3 Beds
•2 Full Baths
Listing Office: New Home Star
Is 55042, 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, 55042 has remained a Seller's Market.
Key Takeaway
55042 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55042, MN
How much do homes in 55042, MN cost?
Median Sold Price
$671,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$31,100(+4.9%)
Key Takeaway
Homes in 55042 have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in 55042 was $671,000 in October 2024, up 4.9% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $863.8K | $560K | -35.2% |
| 3 Bedrooms | $459.6K | $589.9K | +28.3% |
| 4 Bedrooms | $699.9K | $707.9K | +1.2% |
| 5+ Bedrooms | $880K | $850K | -3.4% |
Summary: 55042 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 35.2%, 3 bedroom homes increased by 28.3%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 3.4%.
Housing Supply in 55042, MN
How many homes are available in 55042, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 95 | 104 | +9.5% |
Summary: The 55042 real estate market had 104 homes for sale in October 2024, a 9.5% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 52 | 56 | +7.7% |
| 4 Bedrooms | 25 | 28 | +12.0% |
| 5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The 55042 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 22 | +57.1% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55042, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 55042 in October 2024, up by 57.1% month-over-month. Of the 22 sold homes, 55% were sold under asking, 14% were sold at asking, and 32% were sold over asking.
Days on Market for 55042, MN
How long does it take to sell a home in 55042, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 64 Days | 43 Days | -32.9% |
Summary: Homes in 55042 had an average of 43 days on market in Oct 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55042 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in 55042; 59% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
