$2,672 Closing Credit*
$225,000
1,145 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55107, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 55107 has remained a Seller's Market.
Key Takeaway
55107 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55107, MN
How much do homes in 55107, MN cost?
Median Sold Price
$265,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,550(+3.7%)
Key Takeaway
Homes in 55107 have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in 55107 was $265,000 in October 2024, up 3.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155.9K | $196.5K | +26.0% |
| 2 Bedrooms | $210.5K | $226.5K | +7.6% |
| 3 Bedrooms | $256.8K | $261K | +1.6% |
| 4 Bedrooms | $290K | $300K | +3.4% |
| 5+ Bedrooms | $280K | $302K | +7.9% |
Summary: 55107 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in 55107, MN
How many homes are available in 55107, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 41 | +10.8% |
Summary: The 55107 real estate market had 41 homes for sale in October 2024, a 10.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 55107 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 increased by 60%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55107, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 55107 in October 2024, up by 42.9% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for 55107, MN
How long does it take to sell a home in 55107, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 43 Days | +104.8% |
Summary: Homes in 55107 had an average of 43 days on market in Oct 2024, up by 104.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55107 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in 55107; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
