$1,663 Closing Credit*
$140,000
705 SqFt
1 Bed
•1 Full Bath
Listing Office: Engel & Volkers Lake Minnetonka
Is 55413, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $207.5K | $245K | +18.1% |
| 2 Bedrooms | $330K | $359K | +8.8% |
| 3 Bedrooms | $380K | $387.5K | +2.0% |
| 4 Bedrooms | $384K | $370K | -3.6% |
| 5+ Bedrooms | $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%.
Housing Supply in 55413, MN
How many homes are available in 55413, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 53 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 14 | +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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 40 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
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.
