$8,906 Closing Credit*
$750,000
4,762 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Keller Williams Premier Realty Lake Minnetonka
Is 55442, 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, 55442 has remained a Seller's Market.
Key Takeaway
55442 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55442, MN
How much do homes in 55442, MN cost?
Median Sold Price
$460,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+2.4%)
Key Takeaway
Homes in 55442 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 55442 was $460,000 in October 2024, up 2.4% 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 | $139K | $148.2K | +6.7% |
| 2 Bedrooms | $237.5K | $208K | -12.4% |
| 3 Bedrooms | $440K | $467K | +6.1% |
| 4 Bedrooms | $491.2K | $525K | +6.9% |
| 5+ Bedrooms | $667.5K | $578.2K | -13.4% |
Summary: 55442 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 12.4%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 13.4%.
Housing Supply in 55442, MN
How many homes are available in 55442, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 74 | -2.6% |
Summary: The 55442 real estate market had 74 homes for sale in October 2024, a 2.6% decrease 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 | 15 | +25.0% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 55442 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 25%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55442, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55442 in October 2024, up by 9.1% month-over-month. Of the 24 sold homes, 46% were sold under asking, 21% were sold at asking, and 33% were sold over asking.
Days on Market for 55442, MN
How long does it take to sell a home in 55442, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 38 Days | +70.0% |
Summary: Homes in 55442 had an average of 38 days on market in Oct 2024, up by 70% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55442 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 55442; 58% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
