$4,274 Closing Credit*
$359,900
1,754 SqFt
4 Beds
•1 Full Bath
Listing Office: Keller Williams Classic Rlty NW
Is 55316, 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, 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
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$50(0%)
Key Takeaway
The sold price of homes in 55316 has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $231.5K | - | N/A |
| 2 Bedrooms | $258K | $275K | +6.6% |
| 3 Bedrooms | $340K | $341K | 0.3% |
| 4 Bedrooms | $390K | $397.5K | +1.9% |
| 5+ Bedrooms | $598.7K | $497.5K | -16.9% |
Summary: 55316 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 increased by 6.6%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 16.9%.
Housing Supply in 55316, MN
How many homes are available in 55316, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 99 | +17.9% |
Summary: The 55316 real estate market had 99 homes for sale in October 2024, a 17.9% 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 | 7 | 12 | +71.4% |
| 3 Bedrooms | 32 | 34 | +6.3% |
| 4 Bedrooms | 25 | 31 | +24.0% |
| 5+ Bedrooms | 20 | 22 | +10.0% |
Summary: The 55316 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 71.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 18 | -21.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55316, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 55316 in October 2024, down by 21.7% month-over-month. Of the 18 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 32 Days | +22.9% |
Summary: Homes in 55316 had an average of 32 days on market in Oct 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55316 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 55316; 61% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
