$425,000
Land
Listing Office: Edina Realty, Inc.
Is 55082, 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, 55082 has remained a Seller's Market.
Key Takeaway
55082 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55082, MN
How much do homes in 55082, MN cost?
Median Sold Price
$497,766
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$50,633(+11.3%)
Key Takeaway
Homes in 55082 have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in 55082 was $497,766 in November 2024, up 11.3% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $383K | $410K | +7.0% |
| 2 Bedrooms | $302.5K | $325K | +7.4% |
| 3 Bedrooms | $380K | $415K | +9.2% |
| 4 Bedrooms | $585K | $590K | +0.9% |
| 5+ Bedrooms | $800K | $763K | -4.6% |
Summary: 55082 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 4.6%.
Housing Supply in 55082, MN
How many homes are available in 55082, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 159 | 154 | -3.1% |
Summary: The 55082 real estate market had 154 homes for sale in November 2024, a 3.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 26 | 28 | +7.7% |
| 3 Bedrooms | 42 | 39 | -7.1% |
| 4 Bedrooms | 55 | 56 | +1.8% |
| 5+ Bedrooms | 33 | 28 | -15.2% |
Summary: The 55082 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 7.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 15.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 35 | -23.9% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55082, you may be able to get a good deal. 45.7% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in 55082 in November 2024, down by 23.9% month-over-month. Of the 35 sold homes, 46% were sold under asking, 31% were sold at asking, and 23% were sold over asking.
Days on Market for 55082, MN
How long does it take to sell a home in 55082, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 40 Days | -19.5% |
Summary: Homes in 55082 had an average of 40 days on market in Nov 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55082 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 35 homes were sold in 55082; 60% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
