$5,641 Closing Credit*
$475,000
1,781 SqFt
4 Beds
•1 Full Bath
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 November 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
$355,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+1.4%)
Key Takeaway
Homes in 55426 have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in 55426 was $355,000 in November 2024, up 1.4% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $161.9K | $148.2K | -8.5% |
| 2 Bedrooms | $255K | $260K | +2.0% |
| 3 Bedrooms | $370K | $375K | +1.4% |
| 4 Bedrooms | $440.5K | $440.5K | 0% |
| 5+ Bedrooms | $575K | $715K | +24.3% |
Summary: 55426 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 24.3%.
Housing Supply in 55426, MN
How many homes are available in 55426, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 92 | -3.2% |
Summary: The 55426 real estate market had 92 homes for sale in November 2024, a 3.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 14 | -6.7% |
| 2 Bedrooms | 23 | 27 | +17.4% |
| 3 Bedrooms | 32 | 29 | -9.4% |
| 4 Bedrooms | 22 | 21 | -4.5% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The 55426 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 17.4%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 4.5%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55426, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 55426 in November 2024, the same as the previous month. Of the 22 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 18 Days | -22.9% |
Summary: Homes in 55426 had an average of 18 days on market in Nov 2024, down by 22.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55426 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in 55426; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
