$3,859 Closing Credit*
$325,000
1,483 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55108, 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, 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 October 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 October 2024, down 0.9% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $145K | -9.4% |
| 2 Bedrooms | $265K | $270K | +1.9% |
| 3 Bedrooms | $352.5K | $360K | +2.1% |
| 4 Bedrooms | $435K | $432.5K | -0.6% |
| 5+ Bedrooms | $515K | $403K | -21.7% |
Summary: 55108 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 21.7%.
Housing Supply in 55108, MN
How many homes are available in 55108, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 36 | -10.0% |
Summary: The 55108 real estate market had 36 homes for sale in October 2024, a 10.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 22 | 19 | -13.6% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55108 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55108, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 55108 in October 2024, down by 7.7% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 16 Days | -6.3% |
Summary: Homes in 55108 had an average of 16 days on market in Oct 2024, down by 6.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 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 October 2024, 12 homes were sold in 55108; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
