$4,097 Closing Credit*
$345,000
1,490 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 55045, 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, 55045 has remained a Seller's Market.
Key Takeaway
55045 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55045, MN
How much do homes in 55045, MN cost?
Median Sold Price
$390,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,000(+4.6%)
Key Takeaway
Homes in 55045 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 55045 was $390,000 in October 2024, up 4.6% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $377.4K | +93.6% |
| 2 Bedrooms | $335K | $285K | -14.9% |
| 3 Bedrooms | $365.5K | $379.9K | +4.0% |
| 4 Bedrooms | $393.5K | $399.9K | +1.6% |
| 5+ Bedrooms | $388.6K | $692.5K | +78.2% |
Summary: 55045 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 93.6%, 2 bedroom homes decreased by 14.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 78.2%.
Median Sold Price Compared To Nearby Zip Codes
| 55045 | $373K | $390K | +4.6% |
| 55013 | $427.5K | $424.9K | -0.6% |
Housing Supply in 55045, MN
How many homes are available in 55045, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 49 | -7.5% |
Summary: The 55045 real estate market had 49 homes for sale in October 2024, a 7.5% decrease 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 | 14 | 14 | 0.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 55045 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 decreased by 11.1%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55045, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 55045 in October 2024, up by 25.0% month-over-month. Of the 15 sold homes, 67% were sold under asking, 27% were sold at asking, and 7% were sold over asking.
Days on Market for 55045, MN
How long does it take to sell a home in 55045, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 44 Days | +75.0% |
Summary: Homes in 55045 had an average of 44 days on market in Oct 2024, up by 75% compared to last year.
Breakdown of Home Sale Times
8 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 55045 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in 55045; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
