$149,900
Land
Listing Office: RE/MAX Synergy
Is 55056, 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, 55056 has remained a Seller's Market.
Key Takeaway
55056 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55056, MN
How much do homes in 55056, MN cost?
Median Sold Price
$345,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.0%)
Key Takeaway
Homes in 55056 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 55056 was $345,000 in October 2024, up 3% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | - | N/A |
| 2 Bedrooms | $317.4K | $309.4K | -2.5% |
| 3 Bedrooms | $342.9K | $342.9K | 0.0% |
| 4 Bedrooms | $361.1K | $369K | +2.2% |
| 5+ Bedrooms | $387K | $449.5K | +16.1% |
Summary: 55056 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 2.5%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 16.1%.
Housing Supply in 55056, MN
How many homes are available in 55056, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 122 | 145 | +18.9% |
Summary: The 55056 real estate market had 145 homes for sale in October 2024, a 18.9% increase 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 | 29 | 37 | +27.6% |
| 3 Bedrooms | 59 | 73 | +23.7% |
| 4 Bedrooms | 25 | 24 | -4.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The 55056 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 27.6%, 3 bedroom homes increased by 23.7%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 27 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55056, expect to pay close to the asking price. 51.9% of homes here sold near the asking price last month.
Summary: A total of 27 homes were sold or pending in 55056 in October 2024, the same as the previous month. Of the 27 sold homes, 26% were sold under asking, 52% were sold at asking, and 22% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 21 Days | -32.9% |
Summary: Homes in 55056 had an average of 21 days on market in Oct 2024, down by 32.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55056 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 55056; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
