$10,000 Closing Credit*
$1,375,000
5,587 SqFt
6 Beds
•3 Full Baths, 1 Partial
Listing Office: Coldwell Banker Realty
Is 55340, 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, 55340 was a Seller's Market.
Key Takeaway
55340 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 55340, MN
How much do homes in 55340, MN cost?
Median Sold Price
$650,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$20,000(-3.0%)
Key Takeaway
Homes in 55340 have sold for 3% less than they did a year ago.
Summary: The median home sold price in 55340 was $650,000 in October 2024, down 3% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $414.9K | $344.9K | -16.9% |
| 3 Bedrooms | $456.7K | $479.4K | +5.0% |
| 4 Bedrooms | $686.3K | $689.9K | 0.5% |
| 5+ Bedrooms | $850K | $865K | +1.8% |
Summary: 55340 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 16.9%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 1.8%.
Housing Supply in 55340, MN
How many homes are available in 55340, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 119 | 150 | +26.1% |
Summary: The 55340 real estate market had 150 homes for sale in October 2024, a 26.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 55 | 62 | +12.7% |
| 4 Bedrooms | 35 | 44 | +25.7% |
| 5+ Bedrooms | 19 | 31 | +63.2% |
Summary: The 55340 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 30%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 63.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 24 | +71.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55340, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55340 in October 2024, up by 71.4% month-over-month. Of the 24 sold homes, 42% were sold under asking, 21% were sold at asking, and 38% were sold over asking.
Days on Market for 55340, MN
How long does it take to sell a home in 55340, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 24 Days | -31.7% |
Summary: Homes in 55340 had an average of 24 days on market in Oct 2024, down by 31.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55340 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 55340; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
