$7,719 Closing Credit*
$649,990
1,937 SqFt
3 Beds
•1 Full Bath
Listing Office: Lennar Sales Corp
Is 55318, 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, 55318 has remained a Seller's Market.
Key Takeaway
55318 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55318, MN
How much do homes in 55318, MN cost?
Median Sold Price
$473,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,736(+9.7%)
Key Takeaway
Homes in 55318 have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in 55318 was $473,000 in October 2024, up 9.7% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $129.7K | -10.6% |
| 2 Bedrooms | $280K | $285K | +1.8% |
| 3 Bedrooms | $369.9K | $373.7K | +1.0% |
| 4 Bedrooms | $527.5K | $542.4K | +2.8% |
| 5+ Bedrooms | $655.7K | $674.5K | +2.9% |
Summary: 55318 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.6%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in 55318, MN
How many homes are available in 55318, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 207 | 249 | +20.3% |
Summary: The 55318 real estate market had 249 homes for sale in October 2024, a 20.3% 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 | 32 | 34 | +6.3% |
| 3 Bedrooms | 60 | 83 | +38.3% |
| 4 Bedrooms | 61 | 77 | +26.2% |
| 5+ Bedrooms | 52 | 52 | 0.0% |
Summary: The 55318 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 6.3%, 3 bedroom homes increased by 38.3%, 4 bedroom homes increased by 26.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 49 | +22.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55318, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in 55318 in October 2024, up by 22.5% month-over-month. Of the 49 sold homes, 47% were sold under asking, 20% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 32 Days | +17.7% |
Summary: Homes in 55318 had an average of 32 days on market in Oct 2024, up by 17.7% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
14 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 October 2024, 49 homes were sold in 55318; 63% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
