$4,631 Closing Credit*
$390,000
1,647 SqFt
3 Beds
•3 Full Baths
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Is 55426, 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, 55426 has remained a Seller's Market.
Key Takeaway
55426 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55426, MN
How much do homes in 55426, MN cost?
Median Sold Price
$355,750
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,983(+1.7%)
Key Takeaway
Homes in 55426 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 55426 was $355,750 in October 2024, up 1.7% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $151.6K | +1.1% |
| 2 Bedrooms | $256.3K | $257.4K | 0.5% |
| 3 Bedrooms | $369K | $375K | +1.6% |
| 4 Bedrooms | $430.9K | $442K | +2.6% |
| 5+ Bedrooms | $485K | $727.5K | +50.0% |
Summary: 55426 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 50%.
Housing Supply in 55426, MN
How many homes are available in 55426, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 107 | +16.3% |
Summary: The 55426 real estate market had 107 homes for sale in October 2024, a 16.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 16 | +77.8% |
| 2 Bedrooms | 25 | 27 | +8.0% |
| 3 Bedrooms | 34 | 36 | +5.9% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 55426 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 77.8%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 20 | -35.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55426, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 55426 in October 2024, down by 35.5% month-over-month. Of the 20 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for 55426, MN
How long does it take to sell a home in 55426, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 30 Days | +48.8% |
Summary: Homes in 55426 had an average of 30 days on market in Oct 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55426 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in 55426; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
