$135,000
Land
Listing Office: RE/MAX Experience
Is 55397, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 55397 has remained a Seller's Market.
Key Takeaway
55397 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55397, MN
How much do homes in 55397, MN cost?
Median Sold Price
$272,500
$157/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$34,500(+14.5%)
Key Takeaway
Homes in 55397 have sold for 14.5% more than they did a month ago.
Summary: The median home sold price in 55397 was $272,500 in October 2024, up 14.5% from last month, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172K | $215K | +25.0% |
| 3 Bedrooms | $281K | $330K | +17.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: 55397 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 17.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55368 | $255K | $436.2K | +71.1% |
| 55397 | $238K | $272.5K | +14.5% |
| 55367 | $325K | $283K | -12.9% |
Housing Supply in 55397, MN
How many homes are available in 55397, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The 55397 real estate market had 9 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55397 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 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55397, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 55397 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 55397, MN
How long does it take to sell a home in 55397, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 0 Days | -98.6% |
Summary: Homes in 55397 had an average of 0 days on market in Oct 2024, down by 98.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55397 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 55397; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
