$867 Closing Credit*
$73,000
633 SqFt
1 Bed
•1 Full Bath
Listing Office: RES Realty
Is 55428, 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, 55428 has remained a Seller's Market.
Key Takeaway
55428 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55428, MN
How much do homes in 55428, MN cost?
Median Sold Price
$312,650
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,650(+4.2%)
Key Takeaway
Homes in 55428 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 55428 was $312,650 in October 2024, up 4.2% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69K | $65.9K | -4.4% |
| 2 Bedrooms | $250K | $231.5K | -7.4% |
| 3 Bedrooms | $295K | $301.5K | +2.2% |
| 4 Bedrooms | $330.5K | $341.5K | +3.3% |
| 5+ Bedrooms | $355K | $397.7K | +12.0% |
Summary: 55428 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 12%.
Housing Supply in 55428, MN
How many homes are available in 55428, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 98 | +1.0% |
Summary: The 55428 real estate market had 98 homes for sale in October 2024, a 1.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 48 | 49 | +2.1% |
| 4 Bedrooms | 25 | 27 | +8.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 55428 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 decreased by 25%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 29 | -14.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55428, you could pay more than the asking price. 37.9% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in 55428 in October 2024, down by 14.7% month-over-month. Of the 29 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for 55428, MN
How long does it take to sell a home in 55428, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 33 Days | +53.8% |
Summary: Homes in 55428 had an average of 33 days on market in Oct 2024, up by 53.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55428 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in 55428; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
