Is 55446, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55446 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55446 was a Seller's Market.

Key Takeaway

55446 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 55446, MN

How much do homes in 55446, MN cost?

Median Sold Price

$670,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,166(+3.7%)

Key Takeaway

Homes in 55446 have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in 55446 was $670,000 in October 2024, up 3.7% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $155K$175K
+12.9%
2 $296K$285K
-3.7%
3 $433K$442K
+2.1%
4 $664.5K$693.5K
+4.4%
5+ $930.3K$950K
+2.1%

Summary: 55446 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Zip Codes

55447
+10.5%
55446
+3.7%
55442
+2.4%
55311
-0.9%

Housing Supply in 55446, MN

How many homes are available in 55446, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
146157+7.5%

Summary: The 55446 real estate market had 157 homes for sale in October 2024, a 7.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2023
+15.0%
3 3029
-3.3%
4 3637
+2.8%
5+ 6068
+13.3%

Summary: The 55446 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 15%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 13.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3325-24.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55446, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 55446 in October 2024, down by 24.2% month-over-month. Of the 25 sold homes, 40% were sold under asking, 24% were sold at asking, and 36% were sold over asking.

Days on Market for 55446, MN

How long does it take to sell a home in 55446, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
46 Days48 Days+4.0%

Summary: Homes in 55446 had an average of 48 days on market in Oct 2024, up by 4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55446 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 25 homes were sold in 55446; 48% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 20% 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 21 Days Ago

Newest Listings in 55446, MN

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