$2,671 Closing Credit*
$224,900
1,050 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Howard Gangestad Real Estate
Is 55412, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55412 was a Seller's Market.
Key Takeaway
55412 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55412, MN
How much do homes in 55412, MN cost?
Median Sold Price
$213,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$6,900(-3.1%)
Key Takeaway
Homes in 55412 have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in 55412 was $213,000 in October 2024, down 3.1% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $129K | -7.9% |
| 2 Bedrooms | $181.5K | $185K | +1.9% |
| 3 Bedrooms | $238K | $232K | -2.5% |
| 4 Bedrooms | $255K | $253.2K | -0.7% |
| 5+ Bedrooms | $275K | $267.5K | -2.7% |
Summary: 55412 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 2.7%.
Housing Supply in 55412, MN
How many homes are available in 55412, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 110 | 117 | +6.4% |
Summary: The 55412 real estate market had 117 homes for sale in October 2024, a 6.4% 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 | 27 | 30 | +11.1% |
| 3 Bedrooms | 44 | 49 | +11.4% |
| 4 Bedrooms | 27 | 25 | -7.4% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 55412 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 11.1%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 17 | -54.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55412, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 55412 in October 2024, down by 54.1% month-over-month. Of the 17 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.
Days on Market for 55412, MN
How long does it take to sell a home in 55412, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 12 Days | -42.1% |
Summary: Homes in 55412 had an average of 12 days on market in Oct 2024, down by 42.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55412 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in 55412; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
