$6,411 Closing Credit*
$539,900
2,495 SqFt
4 Beds
•1 Full Bath
Listing Office: Realty Exchange
Is 55431, 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, 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
$380,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,500(+2.0%)
Key Takeaway
Homes in 55431 have sold for 2% more than they did a year ago.
Summary: The median home sold price in 55431 was $380,000 in October 2024, up 2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124.5K | $97K | -22.1% |
| 2 Bedrooms | $272.5K | $321.2K | +17.9% |
| 3 Bedrooms | $365K | $363K | -0.5% |
| 4 Bedrooms | $400K | $400K | 0.0% |
| 5+ Bedrooms | $455K | $410K | -9.9% |
Summary: 55431 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.1%, 2 bedroom homes increased by 17.9%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes did not change, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 67 | 71 | +6.0% |
Summary: The 55431 real estate market had 71 homes for sale in October 2024, a 6.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 26 | 21 | -19.2% |
| 4 Bedrooms | 26 | 34 | +30.8% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 55431 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 10%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55431, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 55431 in October 2024, up by 30.8% month-over-month. Of the 17 sold homes, 29% were sold under asking, 12% were sold at asking, and 59% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 24 Days | +21.7% |
Summary: Homes in 55431 had an average of 24 days on market in Oct 2024, up by 21.7% compared to last year.
Breakdown of Home Sale Times
11 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 55431 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in 55431; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
