$7,659 Closing Credit*
$644,990
3,003 SqFt
5 Beds
•2 Full Baths
Listing Office: D.R. Horton, Inc.
Is 55316, 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, 55316 has remained a Seller's Market.
Key Takeaway
55316 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55316, MN
How much do homes in 55316, MN cost?
Median Sold Price
$364,950
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$550(-0.2%)
Key Takeaway
The sold price of homes in 55316 has remained the same since last year.
Summary: The median home sold price in 55316 was $364,950 in November 2024, down 0.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231.5K | - | N/A |
| 2 Bedrooms | $256.5K | $268K | +4.5% |
| 3 Bedrooms | $340K | $342.5K | +0.7% |
| 4 Bedrooms | $390K | $395K | +1.3% |
| 5+ Bedrooms | $560K | $535.5K | -4.4% |
Summary: 55316 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 4.4%.
Housing Supply in 55316, MN
How many homes are available in 55316, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 91 | 88 | -3.3% |
Summary: The 55316 real estate market had 88 homes for sale in November 2024, a 3.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 32 | 24 | -25.0% |
| 4 Bedrooms | 29 | 30 | +3.4% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The 55316 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55316, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 55316 in November 2024, up by 25.0% month-over-month. Of the 25 sold homes, 28% were sold under asking, 32% were sold at asking, and 40% were sold over asking.
Days on Market for 55316, MN
How long does it take to sell a home in 55316, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 28 Days | -33.5% |
Summary: Homes in 55316 had an average of 28 days on market in Nov 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55316 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in 55316; 64% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
