Is 55442, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55442 is a 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

# BEDSOct 2023Oct 2024CHANGE
1 $139K$148.2K
+6.7%
2 $237.5K$208K
-12.4%
3 $440K$467K
+6.1%
4 $491.2K$525K
+6.9%
5+ $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%.

Median Sold Price Compared To Nearby Zip Codes

55427
+5.3%
55428
+4.2%
55446
+3.7%
55442
+2.4%
55441
0.0%

Housing Supply in 55442, MN

How many homes are available in 55442, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7674-2.6%

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

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 1215
+25.0%
3 2623
-11.5%
4 2422
-8.3%
5+ 1010
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 2024Oct 2024CHANGE
2224+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

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
22 Days38 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55442, MN

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