Listing Office: Whitetail Properties Real
Is 55306, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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 November 2023
+$6,400(+1.6%)
Key Takeaway
Homes in 55306 have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in 55306 was $399,900 in November 2024, up 1.6% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202K | $263.7K | +30.6% |
| 2 Bedrooms | $247.4K | $243.5K | -1.6% |
| 3 Bedrooms | $393K | $390K | -0.8% |
| 4 Bedrooms | $440K | $450K | +2.3% |
| 5+ Bedrooms | $539.9K | $520K | -3.7% |
Summary: 55306 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.6%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 3.7%.
Housing Supply in 55306, MN
How many homes are available in 55306, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 | 44 | -13.7% |
Summary: The 55306 real estate market had 44 homes for sale in November 2024, a 13.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 15 | 13 | -13.3% |
| 3 Bedrooms | 22 | 16 | -27.3% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 55306 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55306, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in 55306 in November 2024, down by 33.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 50% were sold at asking, and 10% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 59 Days | +123.8% |
Summary: Homes in 55306 had an average of 59 days on market in Nov 2024, up by 123.8% compared to last year.
Breakdown of Home Sale Times
5 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 55306 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 55306; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
