$5,938 Closing Credit*
$500,000
2,548 SqFt
4 Beds
•1 Full Bath
Listing Office: Engel & Volkers Prior Lake
Is 55119, 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, 55119 has remained a Seller's Market.
Key Takeaway
55119 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55119, MN
How much do homes in 55119, MN cost?
Median Sold Price
$290,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$6,720(+2.4%)
Key Takeaway
Homes in 55119 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 55119 was $290,000 in October 2024, up 2.4% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $149.2K | $140K | -6.2% |
| 2 Bedrooms | $236.9K | $220.7K | -6.8% |
| 3 Bedrooms | $280K | $290K | +3.6% |
| 4 Bedrooms | $368.5K | $346K | -6.1% |
| 5+ Bedrooms | $438K | $385K | -12.1% |
Summary: 55119 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes decreased by 12.1%.
Housing Supply in 55119, MN
How many homes are available in 55119, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 119 | 133 | +11.8% |
Summary: The 55119 real estate market had 133 homes for sale in October 2024, a 11.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 20 | 30 | +50.0% |
| 3 Bedrooms | 56 | 64 | +14.3% |
| 4 Bedrooms | 30 | 26 | -13.3% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The 55119 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 34 | +13.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55119, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in 55119 in October 2024, up by 13.3% month-over-month. Of the 34 sold homes, 47% were sold under asking, 9% were sold at asking, and 44% were sold over asking.
Days on Market for 55119, MN
How long does it take to sell a home in 55119, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 22 Days | +13.2% |
Summary: Homes in 55119 had an average of 22 days on market in Oct 2024, up by 13.2% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55119 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 34 homes were sold in 55119; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
