Is 55102, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55102 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 55102 has remained a Seller's Market.

Key Takeaway

55102 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55102, MN

How much do homes in 55102, MN cost?

Median Sold Price

$283,000

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$4,100(-1.4%)

Key Takeaway

Homes in 55102 have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in 55102 was $283,000 in November 2024, down 1.4% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $183.5K$170K
-7.4%
2 $285.7K$300K
+5.0%
3 $317.5K$317.5K
0.0%
4 $356.2K$374.9K
+5.2%
5+ $635K$620K
-2.4%

Summary: 55102 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.4%, 2 bedroom homes increased by 5%, 3 bedroom homes did not change, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 2.4%.

Median Sold Price Compared To Nearby Zip Codes

55105
+6.3%
55107
+3.6%
55102
-1.4%

Housing Supply in 55102, MN

How many homes are available in 55102, MN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1011010.0%

Summary: The 55102 real estate market had 101 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3026
-13.3%
2 4347
+9.3%
3 1716
-5.9%
4 57
+40.0%
5+ 65
-16.7%

Summary: The 55102 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.3%, 2 bedroom homes increased by 9.3%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2025+25.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55102, you may be able to get a good deal. 68% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 55102 in November 2024, up by 25.0% month-over-month. Of the 25 sold homes, 68% were sold under asking, 8% were sold at asking, and 24% were sold over asking.

Days on Market for 55102, MN

How long does it take to sell a home in 55102, MN?

Average Sale Time

Nov 2023Nov 2024CHANGE
46 Days50 Days+9.7%

Summary: Homes in 55102 had an average of 50 days on market in Nov 2024, up by 9.7% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55102 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 25 homes were sold in 55102; 44% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 16% 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 21 Days Ago

Newest Listings in 55102, MN

Nearby Markets to 55102, MN