Is 55356, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55356 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55356 was a Neutral Market.

Key Takeaway

55356 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55356, MN

How much do homes in 55356, MN cost?

Median Sold Price

$980,000

$256/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$417,083(+74.1%)

Key Takeaway

Homes in 55356 have sold for 74.1% more than they did a year ago.

Summary: The median home sold price in 55356 was $980,000 in October 2024, up 74.1% from last year, and the median price per square foot was $256.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $387.5K$876.7K
+126.3%
3 $473.5K$560K
+18.3%
4 $761K$937.5K
+23.2%
5+ $1.3M$1.3M
+0.9%

Summary: 55356 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 126.3%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 23.2%, and 5+ bedroom homes increased by 0.9%.

Median Sold Price Compared To Nearby Zip Codes

55356
+74.1%
55359
+17.6%
55364
+1.2%
55391
+0.8%
55340
-3.0%

Housing Supply in 55356, MN

How many homes are available in 55356, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5458+7.4%

Summary: The 55356 real estate market had 58 homes for sale in October 2024, a 7.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 12
+100.0%
3 1517
+13.3%
4 98
-11.1%
5+ 2828
0.0%

Summary: The 55356 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
610+66.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55356, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 55356 in October 2024, up by 66.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% were sold at asking, and 0% were sold over asking.

Days on Market for 55356, MN

How long does it take to sell a home in 55356, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days46 Days+146.8%

Summary: Homes in 55356 had an average of 46 days on market in Oct 2024, up by 146.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55356 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 55356; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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 23 Days Ago

Newest Listings in 55356, MN

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