$4,156 Closing Credit*
$350,000
1,464 SqFt
3 Beds
•2 Full Baths
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Is 55359, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 55359 has remained a Seller's Market.
Key Takeaway
55359 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55359, MN
How much do homes in 55359, MN cost?
Median Sold Price
$670,500
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$110,500(+19.7%)
Key Takeaway
Homes in 55359 have sold for 19.7% more than they did a year ago.
Summary: The median home sold price in 55359 was $670,500 in December 2024, up 19.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $567K | $550K | -3.0% |
| 2 Bedrooms | $301.2K | $295K | -2.1% |
| 3 Bedrooms | $435K | $391.5K | -10.0% |
| 4 Bedrooms | $582.4K | $757.5K | +30.1% |
| 5+ Bedrooms | $1.5M | $1.0M | -29.4% |
Summary: 55359 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 30.1%, and 5+ bedroom homes decreased by 29.4%.
Housing Supply in 55359, MN
How many homes are available in 55359, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 27 | 23 | -14.8% |
Summary: The 55359 real estate market had 23 homes for sale in December 2024, a 14.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 9 | 6 | -33.3% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The 55359 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55359, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 55359 in December 2024, the same as the previous month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 55359, MN
How long does it take to sell a home in 55359, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 38 Days | 45 Days | +19.2% |
Summary: Homes in 55359 had an average of 45 days on market in Dec 2024, up by 19.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55359 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 8 homes were sold in 55359; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
