$3,859 Closing Credit*
$325,000
1,746 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 55056, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55056 was a Seller's Market.
Key Takeaway
55056 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55056, MN
How much do homes in 55056, MN cost?
Median Sold Price
$345,250
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$10,300(+3.1%)
Key Takeaway
Homes in 55056 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 55056 was $345,250 in November 2024, up 3.1% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | - | N/A |
| 2 Bedrooms | $319.9K | $310K | -3.1% |
| 3 Bedrooms | $343.9K | $344.9K | 0.3% |
| 4 Bedrooms | $359.9K | $369.9K | +2.8% |
| 5+ Bedrooms | $387K | $442.2K | +14.3% |
Summary: 55056 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 3.1%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 14.3%.
Housing Supply in 55056, MN
How many homes are available in 55056, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 113 | 121 | +7.1% |
Summary: The 55056 real estate market had 121 homes for sale in November 2024, a 7.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 27 | 28 | +3.7% |
| 3 Bedrooms | 57 | 63 | +10.5% |
| 4 Bedrooms | 21 | 19 | -9.5% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The 55056 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 increased by 3.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 13 | -55.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55056, expect to pay close to the asking price. 53.8% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in 55056 in November 2024, down by 55.2% month-over-month. Of the 13 sold homes, 23% were sold under asking, 54% were sold at asking, and 23% were sold over asking.
Days on Market for 55056, MN
How long does it take to sell a home in 55056, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 36 Days | +75.3% |
Summary: Homes in 55056 had an average of 36 days on market in Nov 2024, up by 75.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55056 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 13 homes were sold in 55056; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
