$5,878 Closing Credit*
$495,000
3,053 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Princeton Realty
Is 55398, 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, 55398 was a Seller's Market.
Key Takeaway
55398 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55398, MN
How much do homes in 55398, MN cost?
Median Sold Price
$359,900
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,900(+2.8%)
Key Takeaway
Homes in 55398 have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in 55398 was $359,900 in October 2024, up 2.8% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $257.5K | +49.3% |
| 2 Bedrooms | $289.9K | $310K | +6.9% |
| 3 Bedrooms | $318.5K | $339.2K | +6.5% |
| 4 Bedrooms | $381K | $389.9K | +2.3% |
| 5+ Bedrooms | $465K | $457.5K | -1.6% |
Summary: 55398 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.3%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 2.3%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 94 | +23.7% |
Summary: The 55398 real estate market had 94 homes for sale in October 2024, a 23.7% increase 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 | 14 | 15 | +7.1% |
| 3 Bedrooms | 26 | 30 | +15.4% |
| 4 Bedrooms | 24 | 35 | +45.8% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The 55398 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 7.1%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 45.8%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55398, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 55398 in October 2024, down by 18.8% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 39 Days | +69.7% |
Summary: Homes in 55398 had an average of 39 days on market in Oct 2024, up by 69.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 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 October 2024, 13 homes were sold in 55398; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
