$1,603 Closing Credit*
$135,000
676 SqFt
1 Bed
•1 Full Bath
Listing Office: Keller Williams Classic Rlty NW
Is 55108, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55108 has remained a Seller's Market.
Key Takeaway
55108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55108, MN
How much do homes in 55108, MN cost?
Median Sold Price
$340,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$3,150(-0.9%)
Key Takeaway
Homes in 55108 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 55108 was $340,000 in November 2024, down 0.9% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $145K | -3.3% |
| 2 Bedrooms | $270K | $270K | 0.0% |
| 3 Bedrooms | $350K | $362.5K | +3.6% |
| 4 Bedrooms | $450K | $420K | -6.7% |
| 5+ Bedrooms | $525K | $403K | -23.2% |
Summary: 55108 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 23.2%.
Housing Supply in 55108, MN
How many homes are available in 55108, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 30 | -14.3% |
Summary: The 55108 real estate market had 30 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55108 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 decreased by 16.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
5 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 55108, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 55108 in November 2024, down by 16.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for 55108, MN
How long does it take to sell a home in 55108, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 40 Days | +21.0% |
Summary: Homes in 55108 had an average of 40 days on market in Nov 2024, up by 21% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55108 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 55108; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
