$5,818 Closing Credit*
$489,900
1,358 SqFt
2 Beds
•1 Full Bath
Listing Office: Keller Williams Classic Rlty NW
Is 55331, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55331 was a Seller's Market.
Key Takeaway
55331 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55331, MN
How much do homes in 55331, MN cost?
Median Sold Price
$753,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$75,875(-9.2%)
Key Takeaway
Homes in 55331 have sold for 9.2% less than they did a year ago.
Summary: The median home sold price in 55331 was $753,000 in November 2024, down 9.2% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $901K | $1.1M | +27.6% |
| 2 Bedrooms | $500K | $581.8K | +16.4% |
| 3 Bedrooms | $637.2K | $538.7K | -15.4% |
| 4 Bedrooms | $794K | $775K | -2.4% |
| 5+ Bedrooms | $1.1M | $1.2M | +3.9% |
Summary: 55331 housing prices by bedroom type for November 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 15.4%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 3.9%.
Housing Supply in 55331, MN
How many homes are available in 55331, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 149 | 147 | -1.3% |
Summary: The 55331 real estate market had 147 homes for sale in November 2024, a 1.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 22 | 18 | -18.2% |
| 3 Bedrooms | 40 | 42 | +5.0% |
| 4 Bedrooms | 40 | 39 | -2.5% |
| 5+ Bedrooms | 46 | 47 | +2.2% |
Summary: The 55331 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 2.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 20 | -25.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55331, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 55331 in November 2024, down by 25.9% month-over-month. Of the 20 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 44 Days | +1.5% |
Summary: Homes in 55331 had an average of 44 days on market in Nov 2024, up by 1.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 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 November 2024, 20 homes were sold in 55331; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
