$289,900
Land
Listing Office: Chestnut Realty Inc
Is 55315, 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, 55315 has remained a Seller's Market.
Key Takeaway
55315 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55315, MN
How much do homes in 55315, MN cost?
Median Sold Price
$497,450
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,450(+4.7%)
Key Takeaway
Homes in 55315 have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in 55315 was $497,450 in October 2024, up 4.7% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $479.9K | $299.2K | -37.7% |
| 3 Bedrooms | $467.5K | $427.5K | -8.6% |
| 4 Bedrooms | $415K | $519.7K | +25.2% |
| 5+ Bedrooms | $526.5K | $597.4K | +13.5% |
Summary: 55315 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 37.7%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes increased by 25.2%, and 5+ bedroom homes increased by 13.5%.
Housing Supply in 55315, MN
How many homes are available in 55315, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 33 | +22.2% |
Summary: The 55315 real estate market had 33 homes for sale in October 2024, a 22.2% increase 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 5 | 2 | -60.0% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 55315 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 increased by 100%, 3 bedroom homes decreased by 60%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55315, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 55315 in October 2024, down by 33.3% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for 55315, MN
How long does it take to sell a home in 55315, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 46 Days | -14.2% |
Summary: Homes in 55315 had an average of 46 days on market in Oct 2024, down by 14.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55315 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 55315; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
