$3,563 Closing Credit*
$300,000
2,172 SqFt
Listing Office: Keller Williams Classic Realty
Is 55418, 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, 55418 has remained a Seller's Market.
Key Takeaway
55418 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55418, MN
How much do homes in 55418, MN cost?
Median Sold Price
$345,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,750(+2.9%)
Key Takeaway
Homes in 55418 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 55418 was $345,000 in October 2024, up 2.9% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158.2K | $121.9K | -22.9% |
| 2 Bedrooms | $267.4K | $295K | +10.3% |
| 3 Bedrooms | $340K | $353.5K | +4.0% |
| 4 Bedrooms | $399.3K | $400.5K | 0.3% |
| 5+ Bedrooms | $615K | $459K | -25.4% |
Summary: 55418 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.9%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 25.4%.
Housing Supply in 55418, MN
How many homes are available in 55418, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 95 | +5.6% |
Summary: The 55418 real estate market had 95 homes for sale in October 2024, a 5.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 18 | 21 | +16.7% |
| 3 Bedrooms | 49 | 51 | +4.1% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 55418 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 27 | -12.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55418, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 55418 in October 2024, down by 12.9% month-over-month. Of the 27 sold homes, 48% were sold under asking, 22% were sold at asking, and 30% were sold over asking.
Days on Market for 55418, MN
How long does it take to sell a home in 55418, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 31 Days | +23.2% |
Summary: Homes in 55418 had an average of 31 days on market in Oct 2024, up by 23.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55418 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 55418; 52% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
