$9,012 Closing Credit*
$758,940
3,299 SqFt
4 Beds
•1 Full Bath
Listing Office: Robert Thomas Homes, Inc.
Is 55318, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55318 was a Seller's Market.
Key Takeaway
55318 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55318, MN
How much do homes in 55318, MN cost?
Median Sold Price
$477,665
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$47,665(+11.1%)
Key Takeaway
Homes in 55318 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 55318 was $477,665 in November 2024, up 11.1% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $129.7K | -10.6% |
| 2 Bedrooms | $280K | $287.5K | +2.7% |
| 3 Bedrooms | $369.9K | $375K | +1.4% |
| 4 Bedrooms | $516.2K | $539.9K | +4.6% |
| 5+ Bedrooms | $660.3K | $674.5K | +2.1% |
Summary: 55318 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.6%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 2.1%.
Housing Supply in 55318, MN
How many homes are available in 55318, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 227 | 224 | -1.3% |
Summary: The 55318 real estate market had 224 homes for sale in November 2024, a 1.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 32 | 28 | -12.5% |
| 3 Bedrooms | 72 | 73 | +1.4% |
| 4 Bedrooms | 69 | 66 | -4.3% |
| 5+ Bedrooms | 51 | 53 | +3.9% |
Summary: The 55318 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 3.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 | 24 | -52.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55318, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55318 in November 2024, down by 52.9% month-over-month. Of the 24 sold homes, 42% were sold under asking, 38% were sold at asking, and 21% were sold over asking.
Days on Market for 55318, MN
How long does it take to sell a home in 55318, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 45 Days | +32.7% |
Summary: Homes in 55318 had an average of 45 days on market in Nov 2024, up by 32.7% compared to last year.
Breakdown of Home Sale Times
10 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 55318 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 24 homes were sold in 55318; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
