$3,681 Closing Credit*
$310,000
1,748 SqFt
4 Beds
•1 Full Bath
Listing Office: eXp Realty
Is 55422, 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, 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
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$4,200(-1.3%)
Key Takeaway
Homes in 55422 have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in 55422 was $325,000 in November 2024, down 1.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205.5K | $65K | -68.4% |
| 2 Bedrooms | $250K | $250K | 0.0% |
| 3 Bedrooms | $317K | $320K | +0.9% |
| 4 Bedrooms | $419.7K | $371K | -11.6% |
| 5+ Bedrooms | $615K | $532.5K | -13.4% |
Summary: 55422 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 11.6%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 112 | 92 | -17.9% |
Summary: The 55422 real estate market had 92 homes for sale in November 2024, a 17.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 47 | 42 | -10.6% |
| 4 Bedrooms | 40 | 30 | -25.0% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The 55422 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 38 | +11.8% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55422, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in 55422 in November 2024, up by 11.8% month-over-month. Of the 38 sold homes, 55% were sold under asking, 26% were sold at asking, and 18% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 29 Days | +8.0% |
Summary: Homes in 55422 had an average of 29 days on market in Nov 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55422 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 38 homes were sold in 55422; 58% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
