$4,156 Closing Credit*
$350,000
2,010 SqFt
4 Beds
•2 Full Baths
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Is 55411, 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, 55411 has remained a Seller's Market.
Key Takeaway
55411 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55411, MN
How much do homes in 55411, MN cost?
Median Sold Price
$230,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,500(+3.4%)
Key Takeaway
Homes in 55411 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 55411 was $230,000 in October 2024, up 3.4% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $162.4K | +195.3% |
| 2 Bedrooms | $181.4K | $166.5K | -8.2% |
| 3 Bedrooms | $217K | $229.9K | +6.0% |
| 4 Bedrooms | $245K | $260K | +6.1% |
| 5+ Bedrooms | $265K | $252K | -4.9% |
Summary: 55411 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 195.3%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 4.9%.
Housing Supply in 55411, MN
How many homes are available in 55411, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 | 97 | +11.5% |
Summary: The 55411 real estate market had 97 homes for sale in October 2024, a 11.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 32 | 41 | +28.1% |
| 4 Bedrooms | 28 | 31 | +10.7% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The 55411 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 remained the same, 3 bedroom homes increased by 28.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55411, you could pay more than the asking price. 43.5% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 55411 in October 2024, the same as the previous month. Of the 23 sold homes, 39% were sold under asking, 17% were sold at asking, and 43% were sold over asking.
Days on Market for 55411, MN
How long does it take to sell a home in 55411, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 30 Days | +7.6% |
Summary: Homes in 55411 had an average of 30 days on market in Oct 2024, up by 7.6% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55411 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 23 homes were sold in 55411; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
