Is 55046, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55046 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55046 has remained a Seller's Market.

Key Takeaway

55046 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55046, MN

How much do homes in 55046, MN cost?

Median Sold Price

$360,000

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$5,000(-1.4%)

Key Takeaway

Homes in 55046 have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in 55046 was $360,000 in October 2024, down 1.4% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $230K$215K
-6.5%
3 $365K$330K
-9.6%
4 $375K$365K
-2.7%
5+ $461K$405.9K
-12.0%

Summary: 55046 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 6.5%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes decreased by 12%.

Median Sold Price Compared To Nearby Zip Codes

55021
+12.0%
56071
+3.2%
55046
-1.4%
56069
-13.6%

Housing Supply in 55046, MN

How many homes are available in 55046, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2532+28.0%

Summary: The 55046 real estate market had 32 homes for sale in October 2024, a 28.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 28
+300.0%
3 1312
-7.7%
4 911
+22.2%
5+ 11
0.0%

Summary: The 55046 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 300%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
48+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55046, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 55046 in October 2024, up by 100.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.

Days on Market for 55046, MN

How long does it take to sell a home in 55046, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days59 Days+115.3%

Summary: Homes in 55046 had an average of 59 days on market in Oct 2024, up by 115.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55046 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 55046; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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 55046, MN

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