$3,086 Closing Credit*
$259,900
1,468 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: RE/MAX Results
Is 55378, 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, 55378 was a Seller's Market.
Key Takeaway
55378 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55378, MN
How much do homes in 55378, MN cost?
Median Sold Price
$415,833
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,500(+2.1%)
Key Takeaway
Homes in 55378 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 55378 was $415,833 in November 2024, up 2.1% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $295K | $294.9K | 0% |
| 3 Bedrooms | $385K | $366K | -4.9% |
| 4 Bedrooms | $442K | $465K | +5.2% |
| 5+ Bedrooms | $530K | $592.5K | +11.8% |
Summary: 55378 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in 55378, MN
How many homes are available in 55378, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 105 | 93 | -11.4% |
Summary: The 55378 real estate market had 93 homes for sale in November 2024, a 11.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 18 | 11 | -38.9% |
| 3 Bedrooms | 38 | 35 | -7.9% |
| 4 Bedrooms | 38 | 34 | -10.5% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The 55378 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 38.9%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 12 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55378, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 55378 in November 2024, down by 60.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for 55378, MN
How long does it take to sell a home in 55378, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 27 Days | +11.3% |
Summary: Homes in 55378 had an average of 27 days on market in Nov 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55378 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in 55378; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
