$3,563 Closing Credit*
$300,000
1,386 SqFt
2 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55102, 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, 55102 was a Seller's Market.
Key Takeaway
55102 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 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 October 2023
-$3,400(-1.2%)
Key Takeaway
Homes in 55102 have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in 55102 was $283,000 in October 2024, down 1.2% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $172K | -4.4% |
| 2 Bedrooms | $280K | $304K | +8.6% |
| 3 Bedrooms | $315K | $315K | 0.0% |
| 4 Bedrooms | $362.5K | $376K | +3.7% |
| 5+ Bedrooms | $982.5K | $620K | -36.9% |
Summary: 55102 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes increased by 8.6%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 36.9%.
Housing Supply in 55102, MN
How many homes are available in 55102, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 100 | 114 | +14.0% |
Summary: The 55102 real estate market had 114 homes for sale in October 2024, a 14.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 33 | +13.8% |
| 2 Bedrooms | 39 | 48 | +23.1% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 55102 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55102, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 55102 in October 2024, up by 20.0% month-over-month. Of the 18 sold homes, 44% were sold under asking, 39% were sold at asking, and 17% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 57 Days | +79.5% |
Summary: Homes in 55102 had an average of 57 days on market in Oct 2024, up by 79.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55102 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 55102; 50% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
