$4,394 Closing Credit*
$370,000
1,214 SqFt
2 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is 55424, 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, 55424 was a Seller's Market.
Key Takeaway
55424 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55424, MN
How much do homes in 55424, MN cost?
Median Sold Price
$995,000
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$90,500(-8.3%)
Key Takeaway
Homes in 55424 have sold for 8.3% less than they did a year ago.
Summary: The median home sold price in 55424 was $995,000 in November 2024, down 8.3% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $673K | $463.8K | -31.1% |
| 3 Bedrooms | $620K | $640K | +3.2% |
| 4 Bedrooms | $974.5K | $877K | -10.0% |
| 5+ Bedrooms | $1.7M | $1.5M | -8.8% |
Summary: 55424 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 31.1%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 55424, MN
How many homes are available in 55424, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 56 | -1.8% |
Summary: The 55424 real estate market had 56 homes for sale in November 2024, a 1.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The 55424 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55424, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 55424 in November 2024, down by 22.2% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for 55424, MN
How long does it take to sell a home in 55424, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 54 Days | +268.0% |
Summary: Homes in 55424 had an average of 54 days on market in Nov 2024, up by 268% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55424 has remained consistent over time.
Summary: During November 2024, 7 homes were sold in 55424; 29% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
