$150,000
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 November 2023
Since last year, 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
$297,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$17,000(-5.4%)
Key Takeaway
Homes in 55397 have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in 55397 was $297,000 in November 2024, down 5.4% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $249.9K | $254.9K | +2.0% |
| 3 Bedrooms | $312.9K | $266K | -15.0% |
| 4 Bedrooms | $314K | $330K | +5.1% |
| 5+ Bedrooms | $667.5K | $442.2K | -33.7% |
Summary: 55397 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 increased by 2%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 33.7%.
Median Sold Price Compared To Nearby Zip Codes
| 55360 | $353K | $375K | +6.2% |
| 55397 | $314K | $297K | -5.4% |
| 55354 | $262.7K | $240K | -8.7% |
Housing Supply in 55397, MN
How many homes are available in 55397, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Summary: The 55397 real estate market had 5 homes for sale in November 2024, a 28.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55397 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55397, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 55397 in November 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 22 Days | -26.7% |
Summary: Homes in 55397 had an average of 22 days on market in Nov 2024, down by 26.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was 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 November 2024, 1 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.
