Is 55372, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55372 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55372 has remained a Seller's Market.

Key Takeaway

55372 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55372, MN

How much do homes in 55372, MN cost?

Median Sold Price

$514,125

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,875(+6.8%)

Key Takeaway

Homes in 55372 have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in 55372 was $514,125 in October 2024, up 6.8% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $220.5K$240K
+8.8%
2 $283K$310K
+9.5%
3 $390K$390K
0.0%
4 $567K$552K
-2.6%
5+ $725K$749.6K
+3.4%

Summary: 55372 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 9.5%, 3 bedroom homes did not change, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Zip Codes

55372
+6.8%
55044
+4.3%
55378
+2.7%
55379
+2.6%
55020
-4.5%

Housing Supply in 55372, MN

How many homes are available in 55372, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
192187-2.6%

Summary: The 55372 real estate market had 187 homes for sale in October 2024, a 2.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 52
-60.0%
2 1714
-17.6%
3 5656
0.0%
4 6764
-4.5%
5+ 4751
+8.5%

Summary: The 55372 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes increased by 8.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4645-2.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55372, you may be able to get a good deal. 48.9% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in 55372 in October 2024, down by 2.2% month-over-month. Of the 45 sold homes, 49% were sold under asking, 29% were sold at asking, and 22% were sold over asking.

Days on Market for 55372, MN

How long does it take to sell a home in 55372, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
31 Days46 Days+48.2%

Summary: Homes in 55372 had an average of 46 days on market in Oct 2024, up by 48.2% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55372 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 45 homes were sold in 55372; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% 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 20 Days Ago

Newest Listings in 55372, MN

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