$6,530 Closing Credit*
$549,900
3,003 SqFt
3 Beds
•3 Full Baths
Listing Office: Coldwell Banker Realty
Is 55406, 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, 55406 has remained a Seller's Market.
Key Takeaway
55406 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55406, MN
How much do homes in 55406, MN cost?
Median Sold Price
$325,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$2,250(-0.7%)
Key Takeaway
Homes in 55406 have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in 55406 was $325,000 in October 2024, down 0.7% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.9K | $161K | -16.1% |
| 2 Bedrooms | $280K | $280.5K | 0.2% |
| 3 Bedrooms | $350K | $340K | -2.9% |
| 4 Bedrooms | $460K | $448.8K | -2.4% |
| 5+ Bedrooms | $405K | $518K | +27.9% |
Summary: 55406 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 0.2%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 27.9%.
Housing Supply in 55406, MN
How many homes are available in 55406, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 110 | +2.8% |
Summary: The 55406 real estate market had 110 homes for sale in October 2024, a 2.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 34 | 34 | 0.0% |
| 3 Bedrooms | 44 | 39 | -11.4% |
| 4 Bedrooms | 19 | 26 | +36.8% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The 55406 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 36.8%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 34 | +17.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55406, you could pay more than the asking price. 55.9% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in 55406 in October 2024, up by 17.2% month-over-month. Of the 34 sold homes, 26% were sold under asking, 18% were sold at asking, and 56% were sold over asking.
Days on Market for 55406, MN
How long does it take to sell a home in 55406, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 20 Days | +60.7% |
Summary: Homes in 55406 had an average of 20 days on market in Oct 2024, up by 60.7% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55406 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 34 homes were sold in 55406; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
