$3,563 Closing Credit*
$300,000
1,251 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: EXIT Realty Nexus
Is 55311, 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, 55311 has remained a Seller's Market.
Key Takeaway
55311 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55311, MN
How much do homes in 55311, MN cost?
Median Sold Price
$470,840
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$4,160(-0.9%)
Key Takeaway
Homes in 55311 have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in 55311 was $470,840 in October 2024, down 0.9% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $180K | -30.8% |
| 2 Bedrooms | $282.9K | $287K | +1.4% |
| 3 Bedrooms | $365K | $367.5K | +0.7% |
| 4 Bedrooms | $534K | $542.5K | +1.6% |
| 5+ Bedrooms | $760K | $799K | +5.1% |
Summary: 55311 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.8%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 5.1%.
Housing Supply in 55311, MN
How many homes are available in 55311, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 191 | 185 | -3.1% |
Summary: The 55311 real estate market had 185 homes for sale in October 2024, a 3.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 44 | 37 | -15.9% |
| 3 Bedrooms | 36 | 40 | +11.1% |
| 4 Bedrooms | 54 | 55 | +1.9% |
| 5+ Bedrooms | 57 | 53 | -7.0% |
Summary: The 55311 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 15.9%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 47 | -21.7% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55311, you may be able to get a good deal. 48.9% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in 55311 in October 2024, down by 21.7% month-over-month. Of the 47 sold homes, 49% were sold under asking, 32% were sold at asking, and 19% were sold over asking.
Days on Market for 55311, MN
How long does it take to sell a home in 55311, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 30 Days | +37.9% |
Summary: Homes in 55311 had an average of 30 days on market in Oct 2024, up by 37.9% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55311 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 47 homes were sold in 55311; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
