$2,838 Closing Credit*
$239,000
3,246 SqFt
6 Beds
•2 Full Baths
Listing Office: eXp Realty
Is 55051, 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, 55051 has remained a Seller's Market.
Key Takeaway
55051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55051, MN
How much do homes in 55051, MN cost?
Median Sold Price
$271,950
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,050(+8.8%)
Key Takeaway
Homes in 55051 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 55051 was $271,950 in October 2024, up 8.8% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $171K | $183.4K | +7.3% |
| 2 Bedrooms | $282K | $220K | -22.0% |
| 3 Bedrooms | $239.9K | $280.7K | +17.0% |
| 4 Bedrooms | $245K | $300K | +22.4% |
| 5+ Bedrooms | $430K | $415K | -3.5% |
Summary: 55051 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes decreased by 22%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes decreased by 3.5%.
Median Sold Price Compared To Nearby Zip Codes
| 55007 | $240K | $292K | +21.7% |
| 55051 | $249.9K | $271.9K | +8.8% |
| 55006 | $275K | $250K | -9.1% |
Housing Supply in 55051, MN
How many homes are available in 55051, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 43 | 48 | +11.6% |
Summary: The 55051 real estate market had 48 homes for sale in October 2024, a 11.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 22 | 25 | +13.6% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 55051 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 increased by 11.1%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55051, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 55051 in October 2024, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for 55051, MN
How long does it take to sell a home in 55051, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 54 Days | +16.5% |
Summary: Homes in 55051 had an average of 54 days on market in Oct 2024, up by 16.5% compared to last year.
Breakdown of Home Sale Times
4 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 55051 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in 55051; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
