Is 55343, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55343 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55343 has remained a Seller's Market.

Key Takeaway

55343 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55343, MN

How much do homes in 55343, MN cost?

Median Sold Price

$350,000

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,000(+5.7%)

Key Takeaway

Homes in 55343 have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in 55343 was $350,000 in October 2024, up 5.7% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $182K$124.9K
-31.4%
2 $235.5K$240K
+1.9%
3 $357.5K$411.1K
+15.0%
4 $451K$520K
+15.3%
5+ $555K$610K
+9.9%

Summary: 55343 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.4%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 9.9%.

Median Sold Price Compared To Nearby Zip Codes

55436
+15.1%
55345
+9.0%
55305
+8.4%
55343
+5.7%
55426
+1.7%

Housing Supply in 55343, MN

How many homes are available in 55343, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
111112+0.9%

Summary: The 55343 real estate market had 112 homes for sale in October 2024, a 0.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1618
+12.5%
2 3739
+5.4%
3 3638
+5.6%
4 1715
-11.8%
5+ 52
-60.0%

Summary: The 55343 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3724-35.1%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55343, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in 55343 in October 2024, down by 35.1% month-over-month. Of the 24 sold homes, 54% were sold under asking, 13% were sold at asking, and 33% were sold over asking.

Days on Market for 55343, MN

How long does it take to sell a home in 55343, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days25 Days-18.6%

Summary: Homes in 55343 had an average of 25 days on market in Oct 2024, down by 18.6% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55343 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 24 homes were sold in 55343; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% 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 22 Days Ago

Newest Listings in 55343, MN

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