Is 55445, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55445 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55445 has remained a Seller's Market.

Key Takeaway

55445 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55445, MN

How much do homes in 55445, MN cost?

Median Sold Price

$350,000

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,000(+2.9%)

Key Takeaway

Homes in 55445 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 55445 was $350,000 in October 2024, up 2.9% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $184.4K$196K
+6.3%
3 $335K$344.9K
+3.0%
4 $399.9K$390K
-2.5%
5+ $375K$514.9K
+37.3%

Summary: 55445 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 37.3%.

Median Sold Price Compared To Nearby Zip Codes

55428
+4.2%
55369
+3.2%
55445
+2.9%
55316
0%
55443
-3.9%

Housing Supply in 55445, MN

How many homes are available in 55445, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4239-7.1%

Summary: The 55445 real estate market had 39 homes for sale in October 2024, a 7.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 96
-33.3%
3 1115
+36.4%
4 1512
-20.0%
5+ 76
-14.3%

Summary: The 55445 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 decreased by 33.3%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1712-29.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55445, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 55445 in October 2024, down by 29.4% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.

Days on Market for 55445, MN

How long does it take to sell a home in 55445, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days15 Days-47.0%

Summary: Homes in 55445 had an average of 15 days on market in Oct 2024, down by 47% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55445 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 12 homes were sold in 55445; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 55445, MN

Nearby Markets to 55445, MN