$8,906 Closing Credit*
$750,000
3,559 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Keller Williams Classic Rlty NW
Is 55305, 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, 55305 has remained a Seller's Market.
Key Takeaway
55305 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55305, MN
How much do homes in 55305, MN cost?
Median Sold Price
$469,500
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$36,262(+8.4%)
Key Takeaway
Homes in 55305 have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in 55305 was $469,500 in October 2024, up 8.4% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $147.9K | -1.4% |
| 2 Bedrooms | $271.8K | $300K | +10.4% |
| 3 Bedrooms | $465K | $515K | +10.8% |
| 4 Bedrooms | $545.7K | $622.5K | +14.1% |
| 5+ Bedrooms | $886.2K | $700K | -21.0% |
Summary: 55305 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.4%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes decreased by 21%.
Housing Supply in 55305, MN
How many homes are available in 55305, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 93 | +10.7% |
Summary: The 55305 real estate market had 93 homes for sale in October 2024, a 10.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 25 | 31 | +24.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The 55305 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55305, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 55305 in October 2024, up by 33.3% month-over-month. Of the 20 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for 55305, MN
How long does it take to sell a home in 55305, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 34 Days | +43.1% |
Summary: Homes in 55305 had an average of 34 days on market in Oct 2024, up by 43.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55305 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 55305; 60% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
