Is 55413, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55413 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55413 has remained a Seller's Market.

Key Takeaway

55413 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55413, MN

How much do homes in 55413, MN cost?

Median Sold Price

$345,000

$264/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$8,250(-2.3%)

Key Takeaway

Homes in 55413 have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in 55413 was $345,000 in October 2024, down 2.3% from last year, and the median price per square foot was $264.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $207.5K$245K
+18.1%
2 $330K$359K
+8.8%
3 $380K$387.5K
+2.0%
4 $384K$370K
-3.6%
5+ $450K$460K
+2.2%

Summary: 55413 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Zip Codes

55414
+11.1%
55401
+10.3%
55411
+3.4%
55418
+2.9%
55413
-2.3%

Housing Supply in 55413, MN

How many homes are available in 55413, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4553+17.8%

Summary: The 55413 real estate market had 53 homes for sale in October 2024, a 17.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 78
+14.3%
2 2428
+16.7%
3 1112
+9.1%
4 23
+50.0%
5+ 12
+100.0%

Summary: The 55413 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
414+250.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55413, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 55413 in October 2024, up by 250.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.

Days on Market for 55413, MN

How long does it take to sell a home in 55413, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days40 Days+62.0%

Summary: Homes in 55413 had an average of 40 days on market in Oct 2024, up by 62% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55413 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 14 homes were sold in 55413; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55413, MN

Nearby Markets to 55413, MN