$2,826 Closing Credit*
$238,000
1,080 SqFt
3 Beds
•1 Full Bath
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 October 2023
Since last year, 55371 has remained a Seller's Market.
Key Takeaway
55371 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55371, MN
How much do homes in 55371, MN cost?
Median Sold Price
$345,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+1.5%)
Key Takeaway
Homes in 55371 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 55371 was $345,000 in October 2024, up 1.5% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210.6K | $214.9K | +2.0% |
| 2 Bedrooms | $302K | $270K | -10.6% |
| 3 Bedrooms | $342.5K | $345K | +0.7% |
| 4 Bedrooms | $349.9K | $390K | +11.5% |
| 5+ Bedrooms | $414K | $464.4K | +12.2% |
Summary: 55371 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 10.6%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 12.2%.
Housing Supply in 55371, MN
How many homes are available in 55371, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 | 75 | -2.6% |
Summary: The 55371 real estate market had 75 homes for sale in October 2024, a 2.6% decrease 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 | 16 | 15 | -6.3% |
| 3 Bedrooms | 34 | 31 | -8.8% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 55371 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 6.3%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55371, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 55371 in October 2024, up by 5.9% month-over-month. Of the 18 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 42 Days | +22.9% |
Summary: Homes in 55371 had an average of 42 days on market in Oct 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55371 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 55371; 50% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
