$3,266 Closing Credit*
$275,000
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 October 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
$372,450
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$37,450(+11.2%)
Key Takeaway
Homes in 55388 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 55388 was $372,450 in October 2024, up 11.2% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $165K | N/A |
| 2 Bedrooms | $265.9K | $250K | -6.0% |
| 3 Bedrooms | $305K | $372.4K | +22.1% |
| 4 Bedrooms | $370.5K | $377.3K | +1.8% |
| 5+ Bedrooms | $550K | $390K | -29.1% |
Summary: 55388 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 decreased by 6%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 29.1%.
Housing Supply in 55388, MN
How many homes are available in 55388, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 27 | -10.0% |
Summary: The 55388 real estate market had 27 homes for sale in October 2024, a 10.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 55388 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 100%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55388, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55388 in October 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 22 Days | +10.7% |
Summary: Homes in 55388 had an average of 22 days on market in Oct 2024, up by 10.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55388 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 55388; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
