$6,531 Closing Credit*
$549,990
2,175 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: M/I Homes
Is 55340, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55340 has remained a Seller's Market.
Key Takeaway
55340 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55340, MN
How much do homes in 55340, MN cost?
Median Sold Price
$649,995
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$20,080(-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 $649,995 in November 2024, down 3% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $404.2K | $361.9K | -10.4% |
| 3 Bedrooms | $440K | $491.3K | +11.7% |
| 4 Bedrooms | $694.9K | $684.9K | -1.5% |
| 5+ Bedrooms | $855K | $865K | +1.2% |
Summary: 55340 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 1.2%.
Housing Supply in 55340, MN
How many homes are available in 55340, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 128 | 140 | +9.4% |
Summary: The 55340 real estate market had 140 homes for sale in November 2024, a 9.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 15 | +25.0% |
| 3 Bedrooms | 54 | 60 | +11.1% |
| 4 Bedrooms | 40 | 40 | 0.0% |
| 5+ Bedrooms | 22 | 25 | +13.6% |
Summary: The 55340 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 increased by 25%, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55340, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55340 in November 2024, down by 17.2% month-over-month. Of the 24 sold homes, 50% were sold under asking, 42% were sold at asking, and 8% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 38 Days | +21.4% |
Summary: Homes in 55340 had an average of 38 days on market in Nov 2024, up by 21.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 24 homes were sold in 55340; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
