$2,909 Closing Credit*
$245,000
1,392 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Realty Group LLC
Is 55071, 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, 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
$293,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$17,500(-5.6%)
Key Takeaway
Homes in 55071 have sold for 5.6% less than they did a year ago.
Summary: The median home sold price in 55071 was $293,000 in October 2024, down 5.6% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $195K | +21.9% |
| 2 Bedrooms | $230.5K | $246.9K | +7.1% |
| 3 Bedrooms | $295K | $289.5K | -1.9% |
| 4 Bedrooms | $335K | $339K | +1.2% |
| 5+ Bedrooms | $367.5K | $430K | +17.0% |
Summary: 55071 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.9%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 17%.
Housing Supply in 55071, MN
How many homes are available in 55071, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The 55071 real estate market had 14 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 55071 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 remained the same, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55071, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 55071 in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 8 Days | -72.2% |
Summary: Homes in 55071 had an average of 8 days on market in Oct 2024, down by 72.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55071 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 55071; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
