$5,463 Closing Credit*
$460,000
2,219 SqFt
4 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 55123, 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, 55123 has remained a Seller's Market.
Key Takeaway
55123 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55123, MN
How much do homes in 55123, MN cost?
Median Sold Price
$435,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$8,000(-1.8%)
Key Takeaway
Homes in 55123 have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in 55123 was $435,000 in October 2024, down 1.8% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $171.5K | $165K | -3.8% |
| 2 Bedrooms | $218K | $249.9K | +14.7% |
| 3 Bedrooms | $392.5K | $390K | -0.6% |
| 4 Bedrooms | $499.9K | $470K | -6.0% |
| 5+ Bedrooms | $664.5K | $650K | -2.2% |
Summary: 55123 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 14.7%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 2.2%.
Housing Supply in 55123, MN
How many homes are available in 55123, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 91 | +1.1% |
Summary: The 55123 real estate market had 91 homes for sale in October 2024, a 1.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 36 | 35 | -2.8% |
| 5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The 55123 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 5.6%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 26 | +8.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55123, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 55123 in October 2024, up by 8.3% month-over-month. Of the 26 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for 55123, MN
How long does it take to sell a home in 55123, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 39 Days | +54.4% |
Summary: Homes in 55123 had an average of 39 days on market in Oct 2024, up by 54.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55123 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in 55123; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
