$2,968 Closing Credit*
$249,900
871 SqFt
1 Bed
•1 Bath
Listing Office: Lakes Sotheby's International Realty
Is 55401, 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, 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
$385,000
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$45,833(+13.5%)
Key Takeaway
Homes in 55401 have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in 55401 was $385,000 in November 2024, up 13.5% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $258K | $276.5K | +7.2% |
| 2 Bedrooms | $420K | $445K | +6.0% |
| 3 Bedrooms | $1.0M | $820K | -20.6% |
| 4 Bedrooms | $1.3M | $1.1M | -18.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: 55401 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 6%, 3 bedroom homes decreased by 20.6%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 96 | 95 | -1.0% |
Summary: The 55401 real estate market had 95 homes for sale in November 2024, a 1.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 31 | -8.8% |
| 2 Bedrooms | 49 | 51 | +4.1% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55401 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.8%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55401, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 55401 in November 2024, down by 21.4% month-over-month. Of the 11 sold homes, 73% were sold under asking, 9% were sold at asking, and 18% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 66 Days | 81 Days | +23.0% |
Summary: Homes in 55401 had an average of 81 days on market in Nov 2024, up by 23% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55401 has remained consistent over time.
Summary: During November 2024, 11 homes were sold in 55401; 36% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
