$1,376 Closing Credit*
$115,900
682 SqFt
1 Bed
•1 Full Bath
Listing Office: RE/MAX Results
Is 55118, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55118 has remained a Seller's Market.
Key Takeaway
55118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55118, MN
How much do homes in 55118, MN cost?
Median Sold Price
$350,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,600(+5.6%)
Key Takeaway
Homes in 55118 have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in 55118 was $350,000 in November 2024, up 5.6% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $155K | -38.0% |
| 2 Bedrooms | $249.9K | $248.2K | -0.7% |
| 3 Bedrooms | $330K | $357K | +8.2% |
| 4 Bedrooms | $415.5K | $485.5K | +16.8% |
| 5+ Bedrooms | $455.5K | $774K | +69.9% |
Summary: 55118 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 69.9%.
Housing Supply in 55118, MN
How many homes are available in 55118, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 110 | 109 | -0.9% |
Summary: The 55118 real estate market had 109 homes for sale in November 2024, a 0.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 29 | 28 | -3.4% |
| 3 Bedrooms | 37 | 33 | -10.8% |
| 4 Bedrooms | 27 | 31 | +14.8% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The 55118 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55118, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 55118 in November 2024, down by 13.0% month-over-month. Of the 20 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 55118, MN
How long does it take to sell a home in 55118, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 48 Days | +59.4% |
Summary: Homes in 55118 had an average of 48 days on market in Nov 2024, up by 59.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55118 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 20 homes were sold in 55118; 50% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
