Is 55128, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55128 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55128 has remained a Seller's Market.

Key Takeaway

55128 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55128, MN

How much do homes in 55128, MN cost?

Median Sold Price

$340,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$3,333(+1.0%)

Key Takeaway

Homes in 55128 have sold for 1% more than they did a year ago.

Summary: The median home sold price in 55128 was $340,000 in October 2024, up 1% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140K$230K
+64.3%
2 $240K$244.9K
+2.0%
3 $342.4K$335.7K
-2.0%
4 $410K$425K
+3.7%
5+ $403K$475K
+17.9%

Summary: 55128 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.3%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 17.9%.

Median Sold Price Compared To Nearby Zip Codes

55115
+8.0%
55042
+4.9%
55125
+3.9%
55119
+2.4%
55128
+1.0%

Housing Supply in 55128, MN

How many homes are available in 55128, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
96106+10.4%

Summary: The 55128 real estate market had 106 homes for sale in October 2024, a 10.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2627
+3.8%
3 3434
0.0%
4 2838
+35.7%
5+ 87
-12.5%

Summary: The 55128 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 increased by 3.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2926-10.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55128, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in 55128 in October 2024, down by 10.3% month-over-month. Of the 26 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% were sold over asking.

Days on Market for 55128, MN

How long does it take to sell a home in 55128, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days19 Days-19.5%

Summary: Homes in 55128 had an average of 19 days on market in Oct 2024, down by 19.5% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55128 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 55128; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% 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 55128, MN

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