$2,493 Closing Credit*
$209,900
1,296 SqFt
3 Beds
•2 Full Baths
Listing Office: IQ Realty
Is 55117, 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, 55117 has remained a Seller's Market.
Key Takeaway
55117 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55117, MN
How much do homes in 55117, MN cost?
Median Sold Price
$277,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,750(+6.0%)
Key Takeaway
Homes in 55117 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 55117 was $277,000 in October 2024, up 6% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $139K | $130K | -6.5% |
| 2 Bedrooms | $180K | $195K | +8.3% |
| 3 Bedrooms | $285K | $280K | -1.8% |
| 4 Bedrooms | $338K | $370K | +9.5% |
| 5+ Bedrooms | $359.7K | $335K | -6.9% |
Summary: 55117 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in 55117, MN
How many homes are available in 55117, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 108 | 129 | +19.4% |
Summary: The 55117 real estate market had 129 homes for sale in October 2024, a 19.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 27 | 29 | +7.4% |
| 3 Bedrooms | 49 | 64 | +30.6% |
| 4 Bedrooms | 22 | 23 | +4.5% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 55117 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 30 | +30.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55117, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in 55117 in October 2024, up by 30.4% month-over-month. Of the 30 sold homes, 33% were sold under asking, 23% were sold at asking, and 43% were sold over asking.
Days on Market for 55117, MN
How long does it take to sell a home in 55117, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 34 Days | +48.8% |
Summary: Homes in 55117 had an average of 34 days on market in Oct 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55117 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 30 homes were sold in 55117; 57% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
