Is 55421, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55421 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55421 was a Seller's Market.

Key Takeaway

55421 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 55421, MN

How much do homes in 55421, MN cost?

Median Sold Price

$290,587

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$337(+0.1%)

Key Takeaway

The sold price of homes in 55421 has remained the same since last year.

Summary: The median home sold price in 55421 was $290,587 in October 2024, up 0.1% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $164.9K$182.2K
+10.5%
2 $233.5K$245.9K
+5.3%
3 $291K$300K
+3.1%
4 $327K$321.7K
-1.6%
5+ $372.6K$379.9K
+2.0%

Summary: 55421 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 2%.

Median Sold Price Compared To Nearby Zip Codes

55112
+4.4%
55418
+2.9%
55430
+0.8%
55421
0.1%
55432
-1.0%

Housing Supply in 55421, MN

How many homes are available in 55421, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
87110+26.4%

Summary: The 55421 real estate market had 110 homes for sale in October 2024, a 26.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 79
+28.6%
2 1721
+23.5%
3 4152
+26.8%
4 1920
+5.3%
5+ 38
+166.7%

Summary: The 55421 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 26.8%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 166.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2817-39.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55421, you may be able to get a good deal. 35.3% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in 55421 in October 2024, down by 39.3% month-over-month. Of the 17 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% were sold over asking.

Days on Market for 55421, MN

How long does it take to sell a home in 55421, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days24 Days+39.0%

Summary: Homes in 55421 had an average of 24 days on market in Oct 2024, up by 39% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55421 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 17 homes were sold in 55421; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% 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 55421, MN

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