Is 55063, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55063 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55063 has remained a Seller's Market.

Key Takeaway

55063 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55063, MN

How much do homes in 55063, MN cost?

Median Sold Price

$299,900

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,900(+7.1%)

Key Takeaway

Homes in 55063 have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in 55063 was $299,900 in October 2024, up 7.1% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $250K$249.9K
0%
2 $254K$260K
+2.4%
3 $280K$310K
+10.7%
4 $357.1K$349.9K
-2.0%
5+ $400K$278K
-30.5%

Summary: 55063 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 increased by 2.4%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 30.5%.

Median Sold Price Compared To Nearby Zip Codes

55007
+21.7%
54840
+10.2%
55063
+7.1%
55069
+3.4%

Housing Supply in 55063, MN

How many homes are available in 55063, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6063+5.0%

Summary: The 55063 real estate market had 63 homes for sale in October 2024, a 5.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1514
-6.7%
3 2427
+12.5%
4 1719
+11.8%
5+ 32
-33.3%

Summary: The 55063 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 decreased by 6.7%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
914+55.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55063, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 55063 in October 2024, up by 55.6% month-over-month. Of the 14 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for 55063, MN

How long does it take to sell a home in 55063, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
51 Days50 Days-1.0%

Summary: Homes in 55063 had an average of 50 days on market in Oct 2024, down by 1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 55063 has remained consistent over time.

Summary: During October 2024, 14 homes were sold in 55063; 36% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 14% 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 21 Days Ago

Newest Listings in 55063, MN

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