Is 55043, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55043 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55043 has remained a Seller's Market.

Key Takeaway

55043 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55043, MN

How much do homes in 55043, MN cost?

Median Sold Price

$380,000

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$2,000(-0.5%)

Key Takeaway

Homes in 55043 have sold for 0.5% less than they did a year ago.

Summary: The median home sold price in 55043 was $380,000 in October 2024, down 0.5% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $264.5K$222K
-16.1%
3 $380K$355K
-6.6%
4 $465K$450.9K
-3.0%
5+ $378.8K$395K
+4.3%

Summary: 55043 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 16.1%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 4.3%.

Median Sold Price Compared To Nearby Zip Codes

55001
+8.0%
55082
+8.0%
54016
+4.4%
54022
+3.5%
55043
-0.5%

Housing Supply in 55043, MN

How many homes are available in 55043, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
16160.0%

Summary: The 55043 real estate market had 16 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 43
-25.0%
3 57
+40.0%
4 42
-50.0%
5+ 22
0.0%

Summary: The 55043 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55043, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 55043 in October 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for 55043, MN

How long does it take to sell a home in 55043, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days46 Days+190.6%

Summary: Homes in 55043 had an average of 46 days on market in Oct 2024, up by 190.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55043 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 55043; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55043, MN

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