$6,827 Closing Credit*
$574,900
3,689 SqFt
3 Beds
•2 Full Baths
Listing Office: HOMESTEAD ROAD
Is 55420, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55420 was a Seller's Market.
Key Takeaway
55420 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55420, MN
How much do homes in 55420, MN cost?
Median Sold Price
$350,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+6.1%)
Key Takeaway
Homes in 55420 have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in 55420 was $350,000 in November 2024, up 6.1% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $129K | -35.5% |
| 2 Bedrooms | $253K | $268.4K | +6.1% |
| 3 Bedrooms | $336K | $338.2K | +0.7% |
| 4 Bedrooms | $365.5K | $370K | +1.2% |
| 5+ Bedrooms | $378.2K | $403.5K | +6.7% |
Summary: 55420 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.5%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 6.7%.
Housing Supply in 55420, MN
How many homes are available in 55420, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 61 | -1.6% |
Summary: The 55420 real estate market had 61 homes for sale in November 2024, a 1.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 21 | 20 | -4.8% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The 55420 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 9.5%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 10 | -47.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55420, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 55420 in November 2024, down by 47.4% month-over-month. Of the 10 sold homes, 10% were sold under asking, 10% were sold at asking, and 80% were sold over asking.
Days on Market for 55420, MN
How long does it take to sell a home in 55420, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 29 Days | +25.5% |
Summary: Homes in 55420 had an average of 29 days on market in Nov 2024, up by 25.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55420 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in 55420; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
