$4,393 Closing Credit*
$369,900
1,964 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Edina Realty, Inc.
Is 55317, 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, 55317 has remained a Seller's Market.
Key Takeaway
55317 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55317, MN
How much do homes in 55317, MN cost?
Median Sold Price
$510,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+10.9%)
Key Takeaway
Homes in 55317 have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in 55317 was $510,000 in October 2024, up 10.9% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $201.3K | $190K | -5.7% |
| 2 Bedrooms | $279.9K | $289.5K | +3.4% |
| 3 Bedrooms | $410K | $430K | +4.9% |
| 4 Bedrooms | $580K | $576.5K | -0.6% |
| 5+ Bedrooms | $785K | $812.5K | +3.5% |
Summary: 55317 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 3.5%.
Housing Supply in 55317, MN
How many homes are available in 55317, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 87 | +1.2% |
Summary: The 55317 real estate market had 87 homes for sale in October 2024, a 1.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 27 | 24 | -11.1% |
| 4 Bedrooms | 23 | 16 | -30.4% |
| 5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The 55317 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 30.4%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 16 | -27.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55317, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 55317 in October 2024, down by 27.3% month-over-month. Of the 16 sold homes, 44% were sold under asking, 25% were sold at asking, and 31% were sold over asking.
Days on Market for 55317, MN
How long does it take to sell a home in 55317, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 37 Days | +74.3% |
Summary: Homes in 55317 had an average of 37 days on market in Oct 2024, up by 74.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55317 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in 55317; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
