$4,453 Closing Credit*
$375,000
3,042 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: NOW Realty
Is 55427, 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, 55427 has remained a Seller's Market.
Key Takeaway
55427 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55427, MN
How much do homes in 55427, MN cost?
Median Sold Price
$362,700
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,366(+5.3%)
Key Takeaway
Homes in 55427 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 55427 was $362,700 in October 2024, up 5.3% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $122K | +6.1% |
| 2 Bedrooms | $255K | $257K | +0.8% |
| 3 Bedrooms | $335K | $350K | +4.5% |
| 4 Bedrooms | $387.5K | $395K | +1.9% |
| 5+ Bedrooms | $415K | $471.2K | +13.6% |
Summary: 55427 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 13.6%.
Housing Supply in 55427, MN
How many homes are available in 55427, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 81 | 89 | +9.9% |
Summary: The 55427 real estate market had 89 homes for sale in October 2024, a 9.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 14 | +55.6% |
| 3 Bedrooms | 38 | 37 | -2.6% |
| 4 Bedrooms | 25 | 29 | +16.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 55427 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 55.6%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 16%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 24 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55427, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 55427 in October 2024, the same as the previous month. Of the 24 sold homes, 33% were sold under asking, 29% were sold at asking, and 38% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 27 Days | -3.5% |
Summary: Homes in 55427 had an average of 27 days on market in Oct 2024, down by 3.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 24 homes were sold in 55427; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
