$5,166 Closing Credit*
$435,000
1,484 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: HOMESTEAD ROAD
Is 55427, 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, 55427 was a Seller's Market.
Key Takeaway
55427 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55427, MN
How much do homes in 55427, MN cost?
Median Sold Price
$364,750
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$14,850(+4.2%)
Key Takeaway
Homes in 55427 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 55427 was $364,750 in November 2024, up 4.2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $122K | +1.7% |
| 2 Bedrooms | $255K | $257K | +0.8% |
| 3 Bedrooms | $335K | $350K | +4.5% |
| 4 Bedrooms | $396.5K | $395K | -0.4% |
| 5+ Bedrooms | $430K | $471K | +9.5% |
Summary: 55427 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 9.5%.
Housing Supply in 55427, MN
How many homes are available in 55427, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 84 | 74 | -11.9% |
Summary: The 55427 real estate market had 74 homes for sale in November 2024, a 11.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 35 | 30 | -14.3% |
| 4 Bedrooms | 28 | 23 | -17.9% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 55427 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 7.7%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 9 | -62.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55427, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 55427 in November 2024, down by 62.5% month-over-month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for 55427, MN
How long does it take to sell a home in 55427, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 33 Days | +26.5% |
Summary: Homes in 55427 had an average of 33 days on market in Nov 2024, up by 26.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55427 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in 55427; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
