$1,573 Closing Credit*
$132,500
768 SqFt
1 Bed
•1 Full Bath
Listing Office: HOMESTEAD ROAD
Is 55416, 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, 55416 has remained a Seller's Market.
Key Takeaway
55416 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55416, MN
How much do homes in 55416, MN cost?
Median Sold Price
$428,187
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,220(+0.8%)
Key Takeaway
Homes in 55416 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 55416 was $428,187 in October 2024, up 0.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $180K | -2.7% |
| 2 Bedrooms | $313.5K | $309K | -1.4% |
| 3 Bedrooms | $445K | $457.5K | +2.8% |
| 4 Bedrooms | $700K | $699K | -0.1% |
| 5+ Bedrooms | $659K | $875K | +32.8% |
Summary: 55416 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 32.8%.
Housing Supply in 55416, MN
How many homes are available in 55416, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 190 | 200 | +5.3% |
Summary: The 55416 real estate market had 200 homes for sale in October 2024, a 5.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 33 | +10.0% |
| 2 Bedrooms | 50 | 52 | +4.0% |
| 3 Bedrooms | 53 | 57 | +7.5% |
| 4 Bedrooms | 44 | 43 | -2.3% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The 55416 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 37 | -15.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55416, you may be able to get a good deal. 56.8% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 55416 in October 2024, down by 15.9% month-over-month. Of the 37 sold homes, 57% were sold under asking, 27% were sold at asking, and 16% were sold over asking.
Days on Market for 55416, MN
How long does it take to sell a home in 55416, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 42 Days | +25.8% |
Summary: Homes in 55416 had an average of 42 days on market in Oct 2024, up by 25.8% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55416 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 37 homes were sold in 55416; 51% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
