Is 55321, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55321 is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, 55321 was a Buyer's Market.

Key Takeaway

55321 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 55321, MN

How much do homes in 55321, MN cost?

Median Sold Price

$345,000

$176/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$50,000(+16.9%)

Key Takeaway

Homes in 55321 have sold for 16.9% more than they did a month ago.

Summary: The median home sold price in 55321 was $345,000 in October 2024, up 16.9% from last month, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $240K$300K
+25.0%
4 $350K$340K
-2.9%
5+ -$1.3M
N/A

Summary: 55321 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

55325
+73.8%
55321
+16.9%

Housing Supply in 55321, MN

How many homes are available in 55321, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2833+17.9%

Summary: The 55321 real estate market had 33 homes for sale in October 2024, a 17.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1111
0.0%
2 56
+20.0%
3 45
+25.0%
4 69
+50.0%
5+ 22
0.0%

Summary: The 55321 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 increased by 20%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55321, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in 55321 in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.

Days on Market for 55321, MN

How long does it take to sell a home in 55321, MN?

Average Sale Time

Sep 2024Oct 2024CHANGE
21 Days28 Days+34.0%

Summary: Homes in 55321 had an average of 28 days on market in Oct 2024, up by 34% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55321 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 55321; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 55321, MN

Nearby Markets to 55321, MN