$3,622 Closing Credit*
$305,000
1,682 SqFt
3 Beds
•1 Full Bath
Listing Office: Realty Executives Top Results
Is 55074, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55074 has remained a Seller's Market.
Key Takeaway
55074 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55074, MN
How much do homes in 55074, MN cost?
Median Sold Price
$325,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+8.3%)
Key Takeaway
Homes in 55074 have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in 55074 was $325,000 in November 2024, up 8.3% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $273.5K | $290K | +6.0% |
| 3 Bedrooms | $300K | $318.6K | +6.2% |
| 4 Bedrooms | $468.7K | $379K | -19.1% |
| 5+ Bedrooms | - | $650.5K | N/A |
Summary: 55074 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 increased by 6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 19.1%, and 5+ bedroom homes did not change.
Housing Supply in 55074, MN
How many homes are available in 55074, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Summary: The 55074 real estate market had 12 homes for sale in November 2024, a 20.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55074 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 remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55074, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55074 in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55074, MN
How long does it take to sell a home in 55074, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 34 Days | +152.4% |
Summary: Homes in 55074 had an average of 34 days on market in Nov 2024, up by 152.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55074 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in 55074; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
