$3,384 Closing Credit*
$285,000
1,416 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55075, 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, 55075 has remained a Seller's Market.
Key Takeaway
55075 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55075, MN
How much do homes in 55075, MN cost?
Median Sold Price
$293,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,000(+4.6%)
Key Takeaway
Homes in 55075 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 55075 was $293,000 in October 2024, up 4.6% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $169.9K | $92K | -45.9% |
| 2 Bedrooms | $236K | $246K | +4.2% |
| 3 Bedrooms | $283.5K | $293K | +3.4% |
| 4 Bedrooms | $329.9K | $310K | -6.0% |
| 5+ Bedrooms | $312.5K | $415K | +32.8% |
Summary: 55075 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.9%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 32.8%.
Housing Supply in 55075, MN
How many homes are available in 55075, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 62 | -4.6% |
Summary: The 55075 real estate market had 62 homes for sale in October 2024, a 4.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 29 | 33 | +13.8% |
| 4 Bedrooms | 17 | 11 | -35.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55075 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 35.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 14 | -41.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55075, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55075 in October 2024, down by 41.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% were sold over asking.
Days on Market for 55075, MN
How long does it take to sell a home in 55075, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 50 Days | +195.7% |
Summary: Homes in 55075 had an average of 50 days on market in Oct 2024, up by 195.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55075 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 55075; 50% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
