Is 55319, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55319 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55319 has remained a Seller's Market.

Key Takeaway

55319 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55319, MN

How much do homes in 55319, MN cost?

Median Sold Price

$390,000

$211/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,000(+11.4%)

Key Takeaway

Homes in 55319 have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in 55319 was $390,000 in October 2024, up 11.4% from last year, and the median price per square foot was $211.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $399.9K$234.2K
-41.4%
2 $279.9K$305.9K
+9.3%
3 $342.9K$390K
+13.7%
4 $461.4K$409K
-11.4%
5+ $516K$450K
-12.8%

Summary: 55319 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.4%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes decreased by 12.8%.

Median Sold Price Compared To Nearby Zip Codes

56304
+13.8%
55319
+11.4%
55308
+3.0%
55362
+2.3%
55320
+1.1%

Housing Supply in 55319, MN

How many homes are available in 55319, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3539+11.4%

Summary: The 55319 real estate market had 39 homes for sale in October 2024, a 11.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 31
-66.7%
2 810
+25.0%
3 1618
+12.5%
4 57
+40.0%
5+ 33
0.0%

Summary: The 55319 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55319, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 55319 in October 2024, up by 80.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 44% were sold at asking, and 0% were sold over asking.

Days on Market for 55319, MN

How long does it take to sell a home in 55319, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days36 Days+35.0%

Summary: Homes in 55319 had an average of 36 days on market in Oct 2024, up by 35% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55319 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 55319; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55319, MN

Nearby Markets to 55319, MN