$3,206 Closing Credit*
$270,000
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 November 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
$290,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,500(+2.3%)
Key Takeaway
Homes in 55075 have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in 55075 was $290,000 in November 2024, up 2.3% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $127.4K | $140.6K | +10.4% |
| 2 Bedrooms | $235.5K | $250K | +6.2% |
| 3 Bedrooms | $285K | $292.2K | +2.5% |
| 4 Bedrooms | $329.9K | $307.5K | -6.8% |
| 5+ Bedrooms | $312.5K | $405K | +29.6% |
Summary: 55075 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 29.6%.
Housing Supply in 55075, MN
How many homes are available in 55075, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 58 | +3.6% |
Summary: The 55075 real estate market had 58 homes for sale in November 2024, a 3.6% 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 | 15 | 17 | +13.3% |
| 3 Bedrooms | 29 | 25 | -13.8% |
| 4 Bedrooms | 11 | 15 | +36.4% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55075 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 increased by 13.3%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55075, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in 55075 in November 2024, the same as the previous month. Of the 16 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 24 Days | -3.2% |
Summary: Homes in 55075 had an average of 24 days on market in Nov 2024, down by 3.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 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 November 2024, 16 homes were sold in 55075; 56% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
