Is 55109, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55109 is a 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

# BEDSOct 2023Oct 2024CHANGE
1 $194.9K$180K
-7.7%
2 $263.5K$266K
+0.9%
3 $315K$311K
-1.3%
4 $365K$377.5K
+3.4%
5+ $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%.

Median Sold Price Compared To Nearby Zip Codes

55127
+14.0%
55117
+6.0%
55106
+4.1%
55128
+1.0%
55109
+0.7%

Housing Supply in 55109, MN

How many homes are available in 55109, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
105102-2.9%

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

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2020
0.0%
3 5554
-1.8%
4 2422
-8.3%
5+ 66
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 2024Oct 2024CHANGE
3628-22.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
27 Days31 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55109, MN

Nearby Markets to 55109, MN