$10,000 Closing Credit*
$1,100,000
4,741 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Lakes Sotheby's International
Is 55409, 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, 55409 has remained a Seller's Market.
Key Takeaway
55409 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55409, MN
How much do homes in 55409, MN cost?
Median Sold Price
$340,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+1.5%)
Key Takeaway
Homes in 55409 have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in 55409 was $340,000 in October 2024, up 1.5% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.5K | $167K | +2.8% |
| 2 Bedrooms | $235.2K | $240K | +2.0% |
| 3 Bedrooms | $350.8K | $340K | -3.1% |
| 4 Bedrooms | $500K | $408.5K | -18.3% |
| 5+ Bedrooms | $614K | $535K | -12.9% |
Summary: 55409 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 18.3%, and 5+ bedroom homes decreased by 12.9%.
Housing Supply in 55409, MN
How many homes are available in 55409, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 38 | -2.6% |
Summary: The 55409 real estate market had 38 homes for sale in October 2024, a 2.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 19 | 15 | -21.1% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 55409 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55409, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 55409 in October 2024, up by 10.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for 55409, MN
How long does it take to sell a home in 55409, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 21 Days | -25.5% |
Summary: Homes in 55409 had an average of 21 days on market in Oct 2024, down by 25.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55409 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in 55409; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
