$4,630 Closing Credit*
$389,900
1,775 SqFt
3 Beds
•1 Full Bath
Listing Office: Lakes Sotheby's International Realty
Is 55403, 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, 55403 was a Seller's Market.
Key Takeaway
55403 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55403, MN
How much do homes in 55403, MN cost?
Median Sold Price
$300,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$56,250(+23.1%)
Key Takeaway
Homes in 55403 have sold for 23.1% more than they did a year ago.
Summary: The median home sold price in 55403 was $300,000 in October 2024, up 23.1% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $159K | $150K | -5.7% |
| 2 Bedrooms | $312.4K | $327.5K | +4.8% |
| 3 Bedrooms | $606K | $708.5K | +16.9% |
| 4 Bedrooms | $1.0M | $1.1M | +12.7% |
| 5+ Bedrooms | $1.3M | $1.3M | 0.0% |
Summary: 55403 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes did not change.
Housing Supply in 55403, MN
How many homes are available in 55403, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 106 | +17.8% |
Summary: The 55403 real estate market had 106 homes for sale in October 2024, a 17.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 35 | +16.7% |
| 2 Bedrooms | 36 | 45 | +25.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 55403 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55403, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 55403 in October 2024, up by 28.6% month-over-month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for 55403, MN
How long does it take to sell a home in 55403, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 122 Days | 121 Days | -0.8% |
Summary: Homes in 55403 had an average of 121 days on market in Oct 2024, down by 0.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 55403 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 9 homes were sold in 55403; 0% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
