$3,561 Closing Credit*
$299,900
1,380 SqFt
3 Beds
•1 Full Bath
Listing Office: eXp Realty
Is 55418, 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, 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
$347,125
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,125(+2.1%)
Key Takeaway
Homes in 55418 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 55418 was $347,125 in November 2024, up 2.1% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.5K | $115K | -39.9% |
| 2 Bedrooms | $280K | $290K | +3.6% |
| 3 Bedrooms | $343K | $355K | +3.5% |
| 4 Bedrooms | $399.3K | $400K | 0.2% |
| 5+ Bedrooms | $615K | $459K | -25.4% |
Summary: 55418 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.9%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 0.2%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 90 | 76 | -15.6% |
Summary: The 55418 real estate market had 76 homes for sale in November 2024, a 15.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 19 | 14 | -26.3% |
| 3 Bedrooms | 51 | 44 | -13.7% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 55418 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.3%, 3 bedroom homes decreased by 13.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 17 | -43.3% |
Asking Price vs. Sold Price
3 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 could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 55418 in November 2024, down by 43.3% month-over-month. Of the 17 sold homes, 18% were sold under asking, 35% were sold at asking, and 47% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 24 Days | +60.2% |
Summary: Homes in 55418 had an average of 24 days on market in Nov 2024, up by 60.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55418 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 55418; 82% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
