$5,344 Closing Credit*
$450,000
1,707 SqFt
Listing Office: Mazone Real Estate Group, Inc
Is 55103, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 55103 has remained a Seller's Market.
Key Takeaway
55103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55103, MN
How much do homes in 55103, MN cost?
Median Sold Price
$230,000
$174/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$65,000(-22.0%)
Key Takeaway
Homes in 55103 have sold for 22% less than they did a month ago.
Summary: The median home sold price in 55103 was $230,000 in November 2024, down 22% from last month, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $273K | - | N/A |
| 3 Bedrooms | $280K | $244.5K | -12.7% |
| 4 Bedrooms | $461.2K | $255.7K | -44.6% |
| 5+ Bedrooms | $299.9K | $230K | -23.3% |
Summary: 55103 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 44.6%, and 5+ bedroom homes decreased by 23.3%.
Housing Supply in 55103, MN
How many homes are available in 55103, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 21 | -19.2% |
Summary: The 55103 real estate market had 21 homes for sale in November 2024, a 19.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 55103 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55103, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 55103 in November 2024, down by 44.4% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for 55103, MN
How long does it take to sell a home in 55103, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 49 Days | +132.8% |
Summary: Homes in 55103 had an average of 49 days on market in Nov 2024, up by 132.8% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55103 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 55103; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
