Is 55391, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55391 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55391 has remained a Seller's Market.

Key Takeaway

55391 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55391, MN

How much do homes in 55391, MN cost?

Median Sold Price

$957,500

$326/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,533(+0.8%)

Key Takeaway

Homes in 55391 have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in 55391 was $957,500 in October 2024, up 0.8% from last year, and the median price per square foot was $326.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $254.5K$286.5K
+12.6%
2 $610K$539.9K
-11.5%
3 $777K$682.2K
-12.2%
4 $1.0M$1.1M
+9.6%
5+ $1.7M$1.6M
-7.7%

Summary: 55391 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes decreased by 7.7%.

Median Sold Price Compared To Nearby Zip Codes

55356
+74.1%
55345
+9.0%
55391
+0.8%
55331
-6.6%

Housing Supply in 55391, MN

How many homes are available in 55391, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
129141+9.3%

Summary: The 55391 real estate market had 141 homes for sale in October 2024, a 9.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 2119
-9.5%
3 3030
0.0%
4 3340
+21.2%
5+ 4450
+13.6%

Summary: The 55391 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 13.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1925+31.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55391, you may be able to get a good deal. 52% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 55391 in October 2024, up by 31.6% month-over-month. Of the 25 sold homes, 52% were sold under asking, 24% were sold at asking, and 24% were sold over asking.

Days on Market for 55391, MN

How long does it take to sell a home in 55391, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
34 Days43 Days+26.1%

Summary: Homes in 55391 had an average of 43 days on market in Oct 2024, up by 26.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55391 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 25 homes were sold in 55391; 48% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 20% 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 4 Days Ago

Newest Listings in 55391, MN

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