Is 55320, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55320 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55320 has remained a Seller's Market.

Key Takeaway

55320 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55320, MN

How much do homes in 55320, MN cost?

Median Sold Price

$329,900

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$3,494(+1.1%)

Key Takeaway

Homes in 55320 have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in 55320 was $329,900 in October 2024, up 1.1% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $330K$299.9K
-9.1%
3 $325.9K$329.9K
+1.2%
4 $318K$348.7K
+9.7%
5+ $819.9K$377.5K
-54.0%

Summary: 55320 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 decreased by 9.1%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 54%.

Median Sold Price Compared To Nearby Zip Codes

55382
+22.0%
55319
+11.4%
55358
+3.4%
56301
+2.2%
55320
+1.1%

Housing Supply in 55320, MN

How many homes are available in 55320, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2830+7.1%

Summary: The 55320 real estate market had 30 homes for sale in October 2024, a 7.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1215
+25.0%
4 99
0.0%
5+ 00
0.0%

Summary: The 55320 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 decreased by 14.3%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
28+300.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55320, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 55320 in October 2024, up by 300.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 0% were sold at asking, and 38% were sold over asking.

Days on Market for 55320, MN

How long does it take to sell a home in 55320, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days42 Days+75.5%

Summary: Homes in 55320 had an average of 42 days on market in Oct 2024, up by 75.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55320 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 55320; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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 55320, MN

Nearby Markets to 55320, MN