Is 55419, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55419 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55419 has remained a Seller's Market.

Key Takeaway

55419 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55419, MN

How much do homes in 55419, MN cost?

Median Sold Price

$464,291

$262/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,291(+6.7%)

Key Takeaway

Homes in 55419 have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in 55419 was $464,291 in October 2024, up 6.7% from last year, and the median price per square foot was $262.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $188.1K$245K
+30.2%
2 $329.1K$317.4K
-3.5%
3 $420K$439K
+4.5%
4 $561.2K$657.7K
+17.2%
5+ $870.5K$675K
-22.5%

Summary: 55419 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.2%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes decreased by 22.5%.

Median Sold Price Compared To Nearby Zip Codes

55419
+6.7%
55423
+4.5%
55407
+4.3%
55409
+1.5%
55410
-0.4%

Housing Supply in 55419, MN

How many homes are available in 55419, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8296+17.1%

Summary: The 55419 real estate market had 96 homes for sale in October 2024, a 17.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1112
+9.1%
3 3641
+13.9%
4 2729
+7.4%
5+ 612
+100.0%

Summary: The 55419 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2026+30.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55419, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in 55419 in October 2024, up by 30.0% month-over-month. Of the 26 sold homes, 35% were sold under asking, 19% were sold at asking, and 46% were sold over asking.

Days on Market for 55419, MN

How long does it take to sell a home in 55419, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days26 Days-3.4%

Summary: Homes in 55419 had an average of 26 days on market in Oct 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55419 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 26 homes were sold in 55419; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55419, MN

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