Is 55306, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55306 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55306 has remained a Seller's Market.

Key Takeaway

55306 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55306, MN

How much do homes in 55306, MN cost?

Median Sold Price

$399,900

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,400(+1.9%)

Key Takeaway

Homes in 55306 have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in 55306 was $399,900 in October 2024, up 1.9% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $202K$263.7K
+30.6%
2 $247.4K$247.5K
0.0%
3 $393K$392.5K
-0.1%
4 $434.5K$450K
+3.6%
5+ $485K$515K
+6.2%

Summary: 55306 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.6%, 2 bedroom homes did not change, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Zip Codes

55044
+4.3%
55124
+2.8%
55337
+2.4%
55306
+1.9%

Housing Supply in 55306, MN

How many homes are available in 55306, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
54540.0%

Summary: The 55306 real estate market had 54 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1716
-5.9%
3 1821
+16.7%
4 139
-30.8%
5+ 68
+33.3%

Summary: The 55306 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 decreased by 5.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1614-12.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55306, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 55306 in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 64% were sold under asking, 7% were sold at asking, and 29% were sold over asking.

Days on Market for 55306, MN

How long does it take to sell a home in 55306, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
34 Days33 Days-2.5%

Summary: Homes in 55306 had an average of 33 days on market in Oct 2024, down by 2.5% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55306 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in 55306; 57% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 7% 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 21 Days Ago

Newest Listings in 55306, MN

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