$110,000
Land
Listing Office: RE/MAX Results
Is 55371, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55371 was a Seller's Market.
Key Takeaway
55371 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 55371, MN
How much do homes in 55371, MN cost?
Median Sold Price
$345,000
$195/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in 55371 has remained the same since last year.
Summary: The median home sold price in 55371 was $345,000 in November 2024, the same as last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210.6K | $214.9K | +2.0% |
| 2 Bedrooms | $302K | $280K | -7.3% |
| 3 Bedrooms | $350K | $344K | -1.7% |
| 4 Bedrooms | $356K | $395K | +11.0% |
| 5+ Bedrooms | $406.9K | $483.9K | +18.9% |
Summary: 55371 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 18.9%.
Housing Supply in 55371, MN
How many homes are available in 55371, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 60 | -16.7% |
Summary: The 55371 real estate market had 60 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 8 | -42.9% |
| 3 Bedrooms | 29 | 26 | -10.3% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 10 | 6 | -40.0% |
Summary: The 55371 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 10 | -63.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55371, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in 55371 in November 2024, down by 63.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for 55371, MN
How long does it take to sell a home in 55371, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 88 Days | +122.9% |
Summary: Homes in 55371 had an average of 88 days on market in Nov 2024, up by 122.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 55371 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 10 homes were sold in 55371; 30% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
