$5,938 Closing Credit*
$500,000
2,970 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: JPW Realty
Is 55359, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$614,800
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$91,800(+17.6%)
Key Takeaway
Homes in 55359 have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in 55359 was $614,800 in October 2024, up 17.6% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $567K | $550K | -3.0% |
| 2 Bedrooms | $295K | $315K | +6.8% |
| 3 Bedrooms | $400.5K | $385K | -3.9% |
| 4 Bedrooms | $580K | $786.2K | +35.6% |
| 5+ Bedrooms | $1.5M | $1.0M | -30.8% |
Summary: 55359 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 6.8%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 35.6%, and 5+ bedroom homes decreased by 30.8%.
Housing Supply in 55359, MN
How many homes are available in 55359, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 34 | +3.0% |
Summary: The 55359 real estate market had 34 homes for sale in October 2024, a 3.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The 55359 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55359, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 55359 in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 56 Days | +84.2% |
Summary: Homes in 55359 had an average of 56 days on market in Oct 2024, up by 84.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55359 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in 55359; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
