$2,969 Closing Credit*
$250,000
780 SqFt
2 Beds
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is 55408, 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, 55408 has remained a Seller's Market.
Key Takeaway
55408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55408, MN
How much do homes in 55408, MN cost?
Median Sold Price
$305,250
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,750(+6.9%)
Key Takeaway
Homes in 55408 have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in 55408 was $305,250 in October 2024, up 6.9% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $131K | $150K | +14.5% |
| 2 Bedrooms | $239.9K | $224.9K | -6.3% |
| 3 Bedrooms | $366K | $391.2K | +6.9% |
| 4 Bedrooms | $490K | $494.7K | +1.0% |
| 5+ Bedrooms | $580K | $665K | +14.7% |
Summary: 55408 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 14.7%.
Housing Supply in 55408, MN
How many homes are available in 55408, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 102 | 110 | +7.8% |
Summary: The 55408 real estate market had 110 homes for sale in October 2024, a 7.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 27 | +28.6% |
| 2 Bedrooms | 30 | 31 | +3.3% |
| 3 Bedrooms | 24 | 29 | +20.8% |
| 4 Bedrooms | 18 | 13 | -27.8% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The 55408 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 20.8%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 21 | +16.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55408, you may be able to get a good deal. 38.1% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in 55408 in October 2024, up by 16.7% month-over-month. Of the 21 sold homes, 38% were sold under asking, 29% were sold at asking, and 33% were sold over asking.
Days on Market for 55408, MN
How long does it take to sell a home in 55408, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 45 Days | +61.2% |
Summary: Homes in 55408 had an average of 45 days on market in Oct 2024, up by 61.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55408 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 21 homes were sold in 55408; 52% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
