$3,836 Closing Credit*
$323,000
1,095 SqFt
2 Beds
•1 Full Bath
Listing Office: Keller Williams Classic Realty
Is 55401, 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, 55401 was a Seller's Market.
Key Takeaway
55401 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55401, MN
How much do homes in 55401, MN cost?
Median Sold Price
$375,000
$330/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+10.3%)
Key Takeaway
Homes in 55401 have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in 55401 was $375,000 in October 2024, up 10.3% from last year, and the median price per square foot was $330.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $258K | $275K | +6.6% |
| 2 Bedrooms | $422.5K | $438K | +3.7% |
| 3 Bedrooms | $1.1M | $850K | -24.1% |
| 4 Bedrooms | $1.3M | $1.1M | -18.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: 55401 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 24.1%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes did not change.
Housing Supply in 55401, MN
How many homes are available in 55401, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 104 | 112 | +7.7% |
Summary: The 55401 real estate market had 112 homes for sale in October 2024, a 7.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 38 | +8.6% |
| 2 Bedrooms | 57 | 61 | +7.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55401 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55401, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 55401 in October 2024, the same as the previous month. Of the 13 sold homes, 85% were sold under asking, 15% were sold at asking, and 0% were sold over asking.
Days on Market for 55401, MN
How long does it take to sell a home in 55401, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 62 Days | 75 Days | +21.6% |
Summary: Homes in 55401 had an average of 75 days on market in Oct 2024, up by 21.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55401 has remained consistent over time.
Summary: During October 2024, 13 homes were sold in 55401; 23% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
