$10,000 Closing Credit*
$1,299,875
3,030 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Terrace Realty Partners
Is 55331, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55331 was a Seller's Market.
Key Takeaway
55331 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 55331, MN
How much do homes in 55331, MN cost?
Median Sold Price
$775,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$55,000(-6.6%)
Key Takeaway
Homes in 55331 have sold for 6.6% less than they did a year ago.
Summary: The median home sold price in 55331 was $775,000 in October 2024, down 6.6% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $901K | $1.1M | +27.6% |
| 2 Bedrooms | $500K | $581.8K | +16.4% |
| 3 Bedrooms | $630K | $547.4K | -13.1% |
| 4 Bedrooms | $811.5K | $787K | -3.0% |
| 5+ Bedrooms | $1.1M | $1.3M | +10.6% |
Summary: 55331 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.6%, 2 bedroom homes increased by 16.4%, 3 bedroom homes decreased by 13.1%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 10.6%.
Housing Supply in 55331, MN
How many homes are available in 55331, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 157 | 156 | -0.6% |
Summary: The 55331 real estate market had 156 homes for sale in October 2024, a 0.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 23 | +35.3% |
| 3 Bedrooms | 43 | 40 | -7.0% |
| 4 Bedrooms | 50 | 41 | -18.0% |
| 5+ Bedrooms | 46 | 51 | +10.9% |
Summary: The 55331 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 35.3%, 3 bedroom homes decreased by 7%, 4 bedroom homes decreased by 18%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 25 | -16.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55331, you may be able to get a good deal. 64% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 55331 in October 2024, down by 16.7% month-over-month. Of the 25 sold homes, 64% were sold under asking, 20% were sold at asking, and 16% were sold over asking.
Days on Market for 55331, MN
How long does it take to sell a home in 55331, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 46 Days | +78.8% |
Summary: Homes in 55331 had an average of 46 days on market in Oct 2024, up by 78.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55331 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in 55331; 52% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
