$7,422 Closing Credit*
$625,000
3,494 SqFt
3 Beds
•2 Full Baths
Listing Office: RE/MAX Preferred
Is 55122, 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, 55122 has remained a Seller's Market.
Key Takeaway
55122 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55122, MN
How much do homes in 55122, MN cost?
Median Sold Price
$339,616
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$383(-0.1%)
Key Takeaway
The sold price of homes in 55122 has remained the same since last year.
Summary: The median home sold price in 55122 was $339,616 in October 2024, down 0.1% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147K | $135K | -8.2% |
| 2 Bedrooms | $255K | $249K | -2.4% |
| 3 Bedrooms | $346.5K | $359.9K | +3.9% |
| 4 Bedrooms | $405K | $430K | +6.2% |
| 5+ Bedrooms | $462.4K | $578.7K | +25.1% |
Summary: 55122 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 25.1%.
Housing Supply in 55122, MN
How many homes are available in 55122, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 117 | +9.3% |
Summary: The 55122 real estate market had 117 homes for sale in October 2024, a 9.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 42 | 41 | -2.4% |
| 3 Bedrooms | 32 | 39 | +21.9% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The 55122 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 decreased by 2.4%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 35 | +12.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55122, you could pay more than the asking price. 37.1% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in 55122 in October 2024, up by 12.9% month-over-month. Of the 35 sold homes, 31% were sold under asking, 31% were sold at asking, and 37% were sold over asking.
Days on Market for 55122, MN
How long does it take to sell a home in 55122, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 25 Days | +19.5% |
Summary: Homes in 55122 had an average of 25 days on market in Oct 2024, up by 19.5% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55122 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 35 homes were sold in 55122; 69% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
