$3,716 Closing Credit*
$312,900
1,056 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55110, 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, 55110 has remained a Seller's Market.
Key Takeaway
55110 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55110, MN
How much do homes in 55110, MN cost?
Median Sold Price
$375,033
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,908(+6.5%)
Key Takeaway
Homes in 55110 have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in 55110 was $375,033 in October 2024, up 6.5% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $215K | -12.2% |
| 2 Bedrooms | $275K | $289.5K | +5.3% |
| 3 Bedrooms | $352.5K | $370K | +5.0% |
| 4 Bedrooms | $380K | $420K | +10.5% |
| 5+ Bedrooms | $554.1K | $502.4K | -9.3% |
Summary: 55110 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 9.3%.
Housing Supply in 55110, MN
How many homes are available in 55110, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 145 | 156 | +7.6% |
Summary: The 55110 real estate market had 156 homes for sale in October 2024, a 7.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 30 | 34 | +13.3% |
| 3 Bedrooms | 49 | 57 | +16.3% |
| 4 Bedrooms | 53 | 50 | -5.7% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The 55110 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 13.3%, 3 bedroom homes increased by 16.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 36 | -2.7% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55110, you may be able to get a good deal. 52.8% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in 55110 in October 2024, down by 2.7% month-over-month. Of the 36 sold homes, 53% were sold under asking, 25% were sold at asking, and 22% were sold over asking.
Days on Market for 55110, MN
How long does it take to sell a home in 55110, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 28 Days | -26.1% |
Summary: Homes in 55110 had an average of 28 days on market in Oct 2024, down by 26.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55110 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 36 homes were sold in 55110; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
