$4,749 Closing Credit*
$399,900
1,712 SqFt
4 Beds
•2 Full Baths
Listing Office: eXp Realty
Is 55398, 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, 55398 was a Seller's Market.
Key Takeaway
55398 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 55398, MN
How much do homes in 55398, MN cost?
Median Sold Price
$358,950
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,450(+1.8%)
Key Takeaway
Homes in 55398 have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in 55398 was $358,950 in November 2024, up 1.8% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $257.5K | +32.1% |
| 2 Bedrooms | $279.5K | $310K | +10.9% |
| 3 Bedrooms | $317K | $340K | +7.3% |
| 4 Bedrooms | $390.5K | $384.9K | -1.4% |
| 5+ Bedrooms | $465K | $457.5K | -1.6% |
Summary: 55398 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.1%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 1.6%.
Housing Supply in 55398, MN
How many homes are available in 55398, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 82 | 89 | +8.5% |
Summary: The 55398 real estate market had 89 homes for sale in November 2024, a 8.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 26 | 30 | +15.4% |
| 4 Bedrooms | 29 | 34 | +17.2% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The 55398 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 26.7%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55398, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 55398 in November 2024, down by 7.1% month-over-month. Of the 13 sold homes, 38% were sold under asking, 15% were sold at asking, and 46% were sold over asking.
Days on Market for 55398, MN
How long does it take to sell a home in 55398, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 30 Days | -22.1% |
Summary: Homes in 55398 had an average of 30 days on market in Nov 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55398 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 13 homes were sold in 55398; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
