$3,324 Closing Credit*
$279,900
956 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Professionals
Is 55416, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$429,200
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,566(+1.8%)
Key Takeaway
Homes in 55416 have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in 55416 was $429,200 in November 2024, up 1.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $180K | -2.7% |
| 2 Bedrooms | $322.5K | $309K | -4.2% |
| 3 Bedrooms | $440.5K | $457.5K | +3.9% |
| 4 Bedrooms | $700K | $670K | -4.3% |
| 5+ Bedrooms | $667K | $951K | +42.6% |
Summary: 55416 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 42.6%.
Housing Supply in 55416, MN
How many homes are available in 55416, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 179 | 169 | -5.6% |
Summary: The 55416 real estate market had 169 homes for sale in November 2024, a 5.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 28 | -3.4% |
| 2 Bedrooms | 47 | 46 | -2.1% |
| 3 Bedrooms | 52 | 47 | -9.6% |
| 4 Bedrooms | 38 | 39 | +2.6% |
| 5+ Bedrooms | 13 | 9 | -30.8% |
Summary: The 55416 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.4%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 30.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 39 | 33 | -15.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55416, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in 55416 in November 2024, down by 15.4% month-over-month. Of the 33 sold homes, 52% were sold under asking, 21% were sold at asking, and 27% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 36 Days | +19.7% |
Summary: Homes in 55416 had an average of 36 days on market in Nov 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
7 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 November 2024, 33 homes were sold in 55416; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
