$3,205 Closing Credit*
$269,900
2,326 SqFt
4 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55388, 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, 55388 was a Seller's Market.
Key Takeaway
55388 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 55388, MN
How much do homes in 55388, MN cost?
Median Sold Price
$376,118
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$44,118(+13.3%)
Key Takeaway
Homes in 55388 have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in 55388 was $376,118 in November 2024, up 13.3% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $165K | N/A |
| 2 Bedrooms | $265.9K | $250K | -6.0% |
| 3 Bedrooms | $300.4K | $372.4K | +24.0% |
| 4 Bedrooms | $370.5K | $377.6K | +1.9% |
| 5+ Bedrooms | $495K | $402.7K | -18.6% |
Summary: 55388 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 decreased by 6%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 18.6%.
Housing Supply in 55388, MN
How many homes are available in 55388, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 28 | +3.7% |
Summary: The 55388 real estate market had 28 homes for sale in November 2024, a 3.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 55388 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55388, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55388 in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55388, MN
How long does it take to sell a home in 55388, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 4 Days | 60 Days | +1301.9% |
Summary: Homes in 55388 had an average of 60 days on market in Nov 2024, up by 1301.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55388 has remained consistent over time.
Summary: During November 2024, 4 homes were sold in 55388; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
