$4,738 Closing Credit*
$399,000
1,988 SqFt
4 Beds
•2 Full Baths
#6634017, Johnathan Mielke, Listing Office: Realty Group LLC
Is 55109, 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, 55109 has remained a Seller's Market.
Key Takeaway
55109 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55109, MN
How much do homes in 55109, MN cost?
Median Sold Price
$325,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,333(+0.7%)
Key Takeaway
Homes in 55109 have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in 55109 was $325,000 in October 2024, up 0.7% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $194.9K | $180K | -7.7% |
| 2 Bedrooms | $263.5K | $266K | +0.9% |
| 3 Bedrooms | $315K | $311K | -1.3% |
| 4 Bedrooms | $365K | $377.5K | +3.4% |
| 5+ Bedrooms | $400K | $440K | +10.0% |
Summary: 55109 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 10%.
Housing Supply in 55109, MN
How many homes are available in 55109, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 105 | 102 | -2.9% |
Summary: The 55109 real estate market had 102 homes for sale in October 2024, a 2.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 55 | 54 | -1.8% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 55109 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 remained the same, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 28 | -22.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55109, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in 55109 in October 2024, down by 22.2% month-over-month. Of the 28 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for 55109, MN
How long does it take to sell a home in 55109, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 31 Days | +16.8% |
Summary: Homes in 55109 had an average of 31 days on market in Oct 2024, up by 16.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55109 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in 55109; 54% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
