$39,000
Land
Listing Office: RE/MAX Synergy
Is 55079, 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, 55079 was a Seller's Market.
Key Takeaway
55079 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 55079, MN
How much do homes in 55079, MN cost?
Median Sold Price
$415,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,950(-2.3%)
Key Takeaway
Homes in 55079 have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in 55079 was $415,000 in October 2024, down 2.3% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $312.5K | $268.5K | -14.1% |
| 3 Bedrooms | $389.4K | $400K | +2.7% |
| 4 Bedrooms | $435K | $425K | -2.3% |
| 5+ Bedrooms | $630K | $634.7K | +0.8% |
Summary: 55079 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 0.8%.
Housing Supply in 55079, MN
How many homes are available in 55079, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 38 | 0.0% |
Summary: The 55079 real estate market had 38 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 23 | 19 | -17.4% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 55079 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 increased by 25%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55079, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55079 in October 2024, the same as the previous month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for 55079, MN
How long does it take to sell a home in 55079, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 34 Days | -4.8% |
Summary: Homes in 55079 had an average of 34 days on market in Oct 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55079 has remained consistent over time.
Summary: During October 2024, 6 homes were sold in 55079; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
