$1,544 Closing Credit*
$130,000
754 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is 55422, 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, 55422 has remained a Seller's Market.
Key Takeaway
55422 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55422, MN
How much do homes in 55422, MN cost?
Median Sold Price
$325,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$3,866(-1.2%)
Key Takeaway
Homes in 55422 have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in 55422 was $325,000 in October 2024, down 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $67K | -68.8% |
| 2 Bedrooms | $249.9K | $250K | 0.0% |
| 3 Bedrooms | $320K | $320.9K | 0.3% |
| 4 Bedrooms | $400K | $366K | -8.5% |
| 5+ Bedrooms | $617.5K | $535K | -13.4% |
Summary: 55422 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.8%, 2 bedroom homes did not change, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 13.4%.
Housing Supply in 55422, MN
How many homes are available in 55422, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 120 | 120 | 0.0% |
Summary: The 55422 real estate market had 120 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 19 | 15 | -21.1% |
| 3 Bedrooms | 51 | 48 | -5.9% |
| 4 Bedrooms | 39 | 44 | +12.8% |
| 5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The 55422 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 decreased by 21.1%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 32 | -20.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55422, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in 55422 in October 2024, down by 20.0% month-over-month. Of the 32 sold homes, 47% were sold under asking, 19% were sold at asking, and 34% were sold over asking.
Days on Market for 55422, MN
How long does it take to sell a home in 55422, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 33 Days | +18.9% |
Summary: Homes in 55422 had an average of 33 days on market in Oct 2024, up by 18.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55422 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 32 homes were sold in 55422; 53% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
