$2,672 Closing Credit*
$225,000
728 SqFt
2 Beds
•1 Bath
Listing Office: RE/MAX Results
Is 55302, 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, 55302 has remained a Seller's Market.
Key Takeaway
55302 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55302, MN
How much do homes in 55302, MN cost?
Median Sold Price
$382,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$28,000(-6.8%)
Key Takeaway
Homes in 55302 have sold for 6.8% less than they did a year ago.
Summary: The median home sold price in 55302 was $382,000 in October 2024, down 6.8% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550K | $522.5K | -5.0% |
| 2 Bedrooms | $427.5K | $376.5K | -11.9% |
| 3 Bedrooms | $405K | $344.9K | -14.8% |
| 4 Bedrooms | $368.5K | $396.4K | +7.6% |
| 5+ Bedrooms | $479K | $446.9K | -6.7% |
Summary: 55302 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5%, 2 bedroom homes decreased by 11.9%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 6.7%.
Housing Supply in 55302, MN
How many homes are available in 55302, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 59 | -1.7% |
Summary: The 55302 real estate market had 59 homes for sale in October 2024, a 1.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 12 | 14 | +16.7% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The 55302 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55302, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 55302 in October 2024, up by 8.3% month-over-month. Of the 13 sold homes, 77% were sold under asking, 8% were sold at asking, and 15% were sold over asking.
Days on Market for 55302, MN
How long does it take to sell a home in 55302, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 49 Days | +103.1% |
Summary: Homes in 55302 had an average of 49 days on market in Oct 2024, up by 103.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55302 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 55302; 62% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
