$8,177 Closing Credit*
$688,585
3,317 SqFt
5 Beds
•1 Full Bath, 1 Partial
Listing Office: Brandl/Anderson Realty
Is 55387, 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, 55387 has remained a Seller's Market.
Key Takeaway
55387 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55387, MN
How much do homes in 55387, MN cost?
Median Sold Price
$462,602
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,612(+1.7%)
Key Takeaway
Homes in 55387 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 55387 was $462,602 in October 2024, up 1.7% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $272.9K | N/A |
| 2 Bedrooms | $243.7K | $249.9K | +2.5% |
| 3 Bedrooms | $417K | $417.1K | 0.0% |
| 4 Bedrooms | $480K | $475K | -1.0% |
| 5+ Bedrooms | $538.9K | $563.9K | +4.7% |
Summary: 55387 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 2.5%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Zip Codes
| 55318 | $431.2K | $473K | +9.7% |
| 55322 | $395K | $407.5K | +3.2% |
| 55387 | $454.9K | $462.6K | +1.7% |
| 55375 | $450K | $430K | -4.4% |
| 55386 | $597.5K | $567.4K | -5.0% |
Housing Supply in 55387, MN
How many homes are available in 55387, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 98 | 113 | +15.3% |
Summary: The 55387 real estate market had 113 homes for sale in October 2024, a 15.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 27 | 31 | +14.8% |
| 4 Bedrooms | 33 | 42 | +27.3% |
| 5+ Bedrooms | 24 | 25 | +4.2% |
Summary: The 55387 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 7.1%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 4.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55387, expect to pay close to the asking price. 43.5% of homes here sold near the asking price last month.
Summary: A total of 23 homes were sold or pending in 55387 in October 2024, up by 21.1% month-over-month. Of the 23 sold homes, 26% were sold under asking, 43% were sold at asking, and 30% were sold over asking.
Days on Market for 55387, MN
How long does it take to sell a home in 55387, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 22 Days | -51.3% |
Summary: Homes in 55387 had an average of 22 days on market in Oct 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55387 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 55387; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
