Is 55044, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55044 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55044 has remained a Seller's Market.

Key Takeaway

55044 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55044, MN

How much do homes in 55044, MN cost?

Median Sold Price

$518,329

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,530(+4.3%)

Key Takeaway

Homes in 55044 have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in 55044 was $518,329 in October 2024, up 4.3% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $350K$319.5K
-8.7%
3 $410.4K$409.7K
-0.2%
4 $517K$535K
+3.5%
5+ $642.2K$653K
+1.7%

Summary: 55044 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 8.7%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 1.7%.

Median Sold Price Compared To Nearby Zip Codes

55024
+9.7%
55044
+4.3%
55124
+2.8%
55306
+1.9%
55020
-4.5%

Housing Supply in 55044, MN

How many homes are available in 55044, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
314345+9.9%

Summary: The 55044 real estate market had 345 homes for sale in October 2024, a 9.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2232
+45.5%
3 9794
-3.1%
4 111128
+15.3%
5+ 8491
+8.3%

Summary: The 55044 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 increased by 45.5%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6373+15.9%

Asking Price vs. Sold Price

35 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55044, you may be able to get a good deal. 47.9% of homes here sold below asking price last month.

Summary: A total of 73 homes were sold or pending in 55044 in October 2024, up by 15.9% month-over-month. Of the 73 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% were sold over asking.

Days on Market for 55044, MN

How long does it take to sell a home in 55044, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days35 Days-6.4%

Summary: Homes in 55044 had an average of 35 days on market in Oct 2024, down by 6.4% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55044 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 73 homes were sold in 55044; 52% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 7% 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 21 Days Ago

Newest Listings in 55044, MN

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