$6,946 Closing Credit*
$584,900
2,472 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: RE/MAX Results
Is 55047, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55047 has remained a Seller's Market.
Key Takeaway
55047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55047, MN
How much do homes in 55047, MN cost?
Median Sold Price
$650,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+4.0%)
Key Takeaway
Homes in 55047 have sold for 4% more than they did a year ago.
Summary: The median home sold price in 55047 was $650,000 in November 2024, up 4% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $617K | $385K | -37.6% |
| 3 Bedrooms | $579K | $409.9K | -29.2% |
| 4 Bedrooms | $640K | $698.5K | +9.1% |
| 5+ Bedrooms | $850K | $755K | -11.2% |
Summary: 55047 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 37.6%, 3 bedroom homes decreased by 29.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 11.2%.
Housing Supply in 55047, MN
How many homes are available in 55047, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Summary: The 55047 real estate market had 17 homes for sale in November 2024, a 10.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 55047 housing inventory by bedroom type for November 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 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55047, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in 55047 in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 55047, MN
How long does it take to sell a home in 55047, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 21 Days | -42.5% |
Summary: Homes in 55047 had an average of 21 days on market in Nov 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55047 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in 55047; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
