$800,000
Land
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Is 55439, 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, 55439 has remained a Seller's Market.
Key Takeaway
55439 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55439, MN
How much do homes in 55439, MN cost?
Median Sold Price
$669,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$76,500(+12.9%)
Key Takeaway
Homes in 55439 have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in 55439 was $669,000 in October 2024, up 12.9% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.9K | $380K | +26.7% |
| 2 Bedrooms | $334.9K | $346.5K | +3.5% |
| 3 Bedrooms | $535K | $500K | -6.5% |
| 4 Bedrooms | $707.2K | $732.5K | +3.6% |
| 5+ Bedrooms | $950K | $985K | +3.7% |
Summary: 55439 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 3.7%.
Housing Supply in 55439, MN
How many homes are available in 55439, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 67 | +19.6% |
Summary: The 55439 real estate market had 67 homes for sale in October 2024, a 19.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 6 | 11 | +83.3% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The 55439 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 26.3%, 3 bedroom homes increased by 83.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55439, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in 55439 in October 2024, up by 9.1% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for 55439, MN
How long does it take to sell a home in 55439, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 40 Days | +72.7% |
Summary: Homes in 55439 had an average of 40 days on market in Oct 2024, up by 72.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55439 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in 55439; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
