$7,719 Closing Credit*
$650,000
3,336 SqFt
5 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55405, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 55405 has remained a Seller's Market.
Key Takeaway
55405 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55405, MN
How much do homes in 55405, MN cost?
Median Sold Price
$436,250
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,250(+1.9%)
Key Takeaway
Homes in 55405 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 55405 was $436,250 in October 2024, up 1.9% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107.5K | $125K | +16.3% |
| 2 Bedrooms | $307.5K | $307.5K | 0.0% |
| 3 Bedrooms | $530K | $447.5K | -15.6% |
| 4 Bedrooms | $722.4K | $725K | 0.4% |
| 5+ Bedrooms | $1.0M | $845K | -20.3% |
Summary: 55405 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes did not change, 3 bedroom homes decreased by 15.6%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 20.3%.
Housing Supply in 55405, MN
How many homes are available in 55405, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 71 | 74 | +4.2% |
Summary: The 55405 real estate market had 74 homes for sale in October 2024, a 4.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 20 | 23 | +15.0% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The 55405 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 15%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55405, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 55405 in October 2024, up by 7.7% month-over-month. Of the 14 sold homes, 57% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for 55405, MN
How long does it take to sell a home in 55405, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 57 Days | +48.7% |
Summary: Homes in 55405 had an average of 57 days on market in Oct 2024, up by 48.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55405 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 55405; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
