Is 55126, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55126 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55126 has remained a Seller's Market.

Key Takeaway

55126 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55126, MN

How much do homes in 55126, MN cost?

Median Sold Price

$400,000

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,666(+13.9%)

Key Takeaway

Homes in 55126 have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in 55126 was $400,000 in October 2024, up 13.9% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $126K$125K
-0.8%
2 $265K$265.4K
0.2%
3 $350K$385K
+10.0%
4 $439.5K$460K
+4.7%
5+ $550K$574.5K
+4.5%

Summary: 55126 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.8%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Zip Codes

55127
+14.0%
55126
+13.9%
55117
+6.0%
55112
+4.4%
55014
+3.1%

Housing Supply in 55126, MN

How many homes are available in 55126, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
111122+9.9%

Summary: The 55126 real estate market had 122 homes for sale in October 2024, a 9.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 24
+100.0%
2 2633
+26.9%
3 3232
0.0%
4 3438
+11.8%
5+ 1715
-11.8%

Summary: The 55126 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 26.9%, 3 bedroom homes remained the same, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 11.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3730-18.9%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55126, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in 55126 in October 2024, down by 18.9% month-over-month. Of the 30 sold homes, 43% were sold under asking, 20% were sold at asking, and 37% were sold over asking.

Days on Market for 55126, MN

How long does it take to sell a home in 55126, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days24 Days+5.8%

Summary: Homes in 55126 had an average of 24 days on market in Oct 2024, up by 5.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55126 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 30 homes were sold in 55126; 67% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55126, MN

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