Is 55353, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55353 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55353 was a Seller's Market.

Key Takeaway

55353 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 55353, MN

How much do homes in 55353, MN cost?

Median Sold Price

$324,500

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,614(+17.6%)

Key Takeaway

Homes in 55353 have sold for 17.6% more than they did a year ago.

Summary: The median home sold price in 55353 was $324,500 in October 2024, up 17.6% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $155K-
N/A
2 $275.4K$279.9K
+1.6%
3 $253.4K$342.2K
+35.1%
4 $330K$312.4K
-5.3%
5+ $240K$409.8K
+70.8%

Summary: 55353 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 increased by 1.6%, 3 bedroom homes increased by 35.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 70.8%.

Median Sold Price Compared To Nearby Zip Codes

55382
+22.0%
55353
+17.6%
56320
+2.6%
56301
+2.2%

Housing Supply in 55353, MN

How many homes are available in 55353, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1218+50.0%

Summary: The 55353 real estate market had 18 homes for sale in October 2024, a 50.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 44
0.0%
3 68
+33.3%
4 25
+150.0%
5+ 01
+100.0%

Summary: The 55353 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 150%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55353, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in 55353 in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for 55353, MN

How long does it take to sell a home in 55353, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days13 Days-57.2%

Summary: Homes in 55353 had an average of 13 days on market in Oct 2024, down by 57.2% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55353 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in 55353; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in 55353, MN

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