$2,969 Closing Credit*
$250,000
865 SqFt
2 Beds
•1 Full Bath
Listing Office: Keller Williams Preferred Rlty
Is 55071, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 55071 has remained a Seller's Market.
Key Takeaway
55071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55071, MN
How much do homes in 55071, MN cost?
Median Sold Price
$325,000
$144/sqft
Based on all homes sold in December 2024.
Difference Since Last Month
-$104,000(-24.2%)
Key Takeaway
Homes in 55071 have sold for 24.2% less than they did a month ago.
Summary: The median home sold price in 55071 was $325,000 in December 2024, down 24.2% from last month, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $173K | N/A |
| 2 Bedrooms | - | $75K | N/A |
| 3 Bedrooms | $343.5K | - | N/A |
| 4 Bedrooms | $441K | $340K | -22.9% |
| 5+ Bedrooms | $429K | $375K | -12.6% |
Summary: 55071 housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes decreased by 12.6%.
Median Sold Price Compared To Nearby Zip Codes
| 55055 | $368.7K | $299.9K | -18.7% |
| 55071 | $429K | $325K | -24.2% |
Housing Supply in 55071, MN
How many homes are available in 55071, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Summary: The 55071 real estate market had 12 homes for sale in December 2024, a 20.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 55071 housing inventory by bedroom type for December 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 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55071, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55071 in December 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 55071, MN
How long does it take to sell a home in 55071, MN?
Average Sale Time
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 14 Days | 37 Days | +161.6% |
Summary: Homes in 55071 had an average of 37 days on market in Dec 2024, up by 161.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55071 has remained consistent over time.
Summary: During December 2024, 6 homes were sold in 55071; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
