Is 55362, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55362 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55362 has remained a Seller's Market.

Key Takeaway

55362 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55362, MN

How much do homes in 55362, MN cost?

Median Sold Price

$349,900

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,900(+2.3%)

Key Takeaway

Homes in 55362 have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in 55362 was $349,900 in October 2024, up 2.3% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $194.5K$185K
-4.9%
2 $270K$277.4K
+2.8%
3 $320K$329K
+2.8%
4 $365K$375K
+2.7%
5+ $513.5K$510K
-0.7%

Summary: 55362 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.9%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 0.7%.

Median Sold Price Compared To Nearby Zip Codes

55358
+3.4%
55308
+3.0%
55362
+2.3%
55301
0.4%
55309
0.0%

Housing Supply in 55362, MN

How many homes are available in 55362, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8075-6.3%

Summary: The 55362 real estate market had 75 homes for sale in October 2024, a 6.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3126
-16.1%
4 2626
0.0%
5+ 1011
+10.0%

Summary: The 55362 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 7.7%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2816-42.9%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55362, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 55362 in October 2024, down by 42.9% month-over-month. Of the 16 sold homes, 44% were sold under asking, 25% were sold at asking, and 31% were sold over asking.

Days on Market for 55362, MN

How long does it take to sell a home in 55362, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
45 Days27 Days-39.9%

Summary: Homes in 55362 had an average of 27 days on market in Oct 2024, down by 39.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55362 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 55362; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% 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 55362, MN

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