$2,493 Closing Credit*
$209,900
1,087 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Re/Max Advantage Plus
Is 55431, 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, 55431 has remained a Seller's Market.
Key Takeaway
55431 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55431, MN
How much do homes in 55431, MN cost?
Median Sold Price
$383,650
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,150(+3.0%)
Key Takeaway
Homes in 55431 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 55431 was $383,650 in November 2024, up 3% 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 | $124.5K | $97K | -22.1% |
| 2 Bedrooms | $275K | $312.5K | +13.6% |
| 3 Bedrooms | $365K | $363.7K | -0.3% |
| 4 Bedrooms | $397K | $405K | +2.0% |
| 5+ Bedrooms | $455K | $410K | -9.9% |
Summary: 55431 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.1%, 2 bedroom homes increased by 13.6%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 9.9%.
Housing Supply in 55431, MN
How many homes are available in 55431, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 68 | 67 | -1.5% |
Summary: The 55431 real estate market had 67 homes for sale in November 2024, a 1.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 21 | 19 | -9.5% |
| 4 Bedrooms | 31 | 31 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 55431 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55431, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in 55431 in November 2024, down by 10.5% month-over-month. Of the 17 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for 55431, MN
How long does it take to sell a home in 55431, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 39 Days | +53.5% |
Summary: Homes in 55431 had an average of 39 days on market in Nov 2024, up by 53.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55431 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in 55431; 59% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
