$3,384 Closing Credit*
$285,000
1,158 SqFt
2 Beds
•2 Full Baths
Listing Office: RE/MAX Results
Is 55077, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55077 was a Seller's Market.
Key Takeaway
55077 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55077, MN
How much do homes in 55077, MN cost?
Median Sold Price
$560,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,750(+2.0%)
Key Takeaway
Homes in 55077 have sold for 2% more than they did a year ago.
Summary: The median home sold price in 55077 was $560,000 in October 2024, up 2% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $440.5K | +125.9% |
| 2 Bedrooms | $268.5K | $277.5K | +3.4% |
| 3 Bedrooms | $415K | $427.5K | +3.0% |
| 4 Bedrooms | $587K | $610K | +3.9% |
| 5+ Bedrooms | $694.9K | $815K | +17.3% |
Summary: 55077 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 125.9%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 17.3%.
Housing Supply in 55077, MN
How many homes are available in 55077, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 57 | 55 | -3.5% |
Summary: The 55077 real estate market had 55 homes for sale in October 2024, a 3.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The 55077 housing inventory by bedroom type for October 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 20%, 4 bedroom homes increased by 5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 8 | -42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55077, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 55077 in October 2024, down by 42.9% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 55077, MN
How long does it take to sell a home in 55077, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 13 Days | -52.4% |
Summary: Homes in 55077 had an average of 13 days on market in Oct 2024, down by 52.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55077 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 55077; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
