Is 55423, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55423 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55423 has remained a Seller's Market.

Key Takeaway

55423 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55423, MN

How much do homes in 55423, MN cost?

Median Sold Price

$350,000

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+4.5%)

Key Takeaway

Homes in 55423 have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in 55423 was $350,000 in October 2024, up 4.5% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $130K$136.2K
+4.8%
2 $272K$300K
+10.3%
3 $336.5K$348K
+3.4%
4 $365K$381.5K
+4.5%
5+ $400K$417.5K
+4.4%

Summary: 55423 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 4.4%.

Median Sold Price Compared To Nearby Zip Codes

55435
+16.6%
55419
+6.7%
55423
+4.5%
55410
-0.4%

Housing Supply in 55423, MN

How many homes are available in 55423, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
123119-3.3%

Summary: The 55423 real estate market had 119 homes for sale in October 2024, a 3.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 78
+14.3%
2 2121
0.0%
3 5452
-3.7%
4 3228
-12.5%
5+ 910
+11.1%

Summary: The 55423 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3938-2.6%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55423, you could pay more than the asking price. 44.7% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in 55423 in October 2024, down by 2.6% month-over-month. Of the 38 sold homes, 37% were sold under asking, 18% were sold at asking, and 45% were sold over asking.

Days on Market for 55423, MN

How long does it take to sell a home in 55423, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
34 Days35 Days+2.8%

Summary: Homes in 55423 had an average of 35 days on market in Oct 2024, up by 2.8% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55423 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 38 homes were sold in 55423; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% 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 55423, MN

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