Is 55373, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55373 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55373 was a Seller's Market.

Key Takeaway

55373 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 55373, MN

How much do homes in 55373, MN cost?

Median Sold Price

$347,500

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$27,500(-7.3%)

Key Takeaway

Homes in 55373 have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in 55373 was $347,500 in October 2024, down 7.3% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $319.9K$327.4K
+2.3%
3 $327.5K$312.5K
-4.6%
4 $452.4K$350K
-22.7%
5+ $605K$565K
-6.6%

Summary: 55373 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 22.7%, and 5+ bedroom homes decreased by 6.6%.

Median Sold Price Compared To Nearby Zip Codes

55359
+17.6%
55357
+9.5%
55328
+2.8%
55313
0.0%
55373
-7.3%

Housing Supply in 55373, MN

How many homes are available in 55373, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2735+29.6%

Summary: The 55373 real estate market had 35 homes for sale in October 2024, a 29.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 67
+16.7%
4 1015
+50.0%
5+ 56
+20.0%

Summary: The 55373 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 increased by 16.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
550.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55373, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in 55373 in October 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.

Days on Market for 55373, MN

How long does it take to sell a home in 55373, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days21 Days-12.1%

Summary: Homes in 55373 had an average of 21 days on market in Oct 2024, down by 12.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55373 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 55373; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in 55373, MN

Nearby Markets to 55373, MN