Is 55089, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55089 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55089 has remained a Seller's Market.

Key Takeaway

55089 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55089, MN

How much do homes in 55089, MN cost?

Median Sold Price

$425,000

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$115,600(-21.4%)

Key Takeaway

Homes in 55089 have sold for 21.4% less than they did a year ago.

Summary: The median home sold price in 55089 was $425,000 in October 2024, down 21.4% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $590K$190K
-67.8%
3 $471.4K$435K
-7.7%
4 $802.5K$415K
-48.3%
5+ $600K$750K
+25.0%

Summary: 55089 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 67.8%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 48.3%, and 5+ bedroom homes increased by 25%.

Median Sold Price Compared To Nearby Zip Codes

55066
+12.7%
55009
+2.1%
54014
-5.3%
54021
-8.4%
55089
-21.4%

Housing Supply in 55089, MN

How many homes are available in 55089, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
330.0%

Summary: The 55089 real estate market had 3 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 00
0.0%
4 11
0.0%
5+ 11
0.0%

Summary: The 55089 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55089, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in 55089 in October 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for 55089, MN

We’re sorry, we don't have information for this market at the moment

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55089 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in 55089; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55089, MN

Nearby Markets to 55089, MN