$10,000 Closing Credit*
$1,575,000
4,273 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Lakes Sotheby's International
Is 55447, 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, 55447 has remained a Seller's Market.
Key Takeaway
55447 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55447, MN
How much do homes in 55447, MN cost?
Median Sold Price
$475,290
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,290(+10.5%)
Key Takeaway
Homes in 55447 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 55447 was $475,290 in October 2024, up 10.5% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $194.5K | +25.5% |
| 2 Bedrooms | $275.5K | $271.5K | -1.5% |
| 3 Bedrooms | $425K | $430K | +1.2% |
| 4 Bedrooms | $514.5K | $569.9K | +10.8% |
| 5+ Bedrooms | $640.5K | $730K | +14.0% |
Summary: 55447 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.5%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 14%.
Housing Supply in 55447, MN
How many homes are available in 55447, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 95 | +13.1% |
Summary: The 55447 real estate market had 95 homes for sale in October 2024, a 13.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 26 | 31 | +19.2% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 24 | 27 | +12.5% |
| 5+ Bedrooms | 19 | 19 | 0.0% |
Summary: The 55447 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 19.2%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 27 | +68.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55447, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 55447 in October 2024, up by 68.8% month-over-month. Of the 27 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for 55447, MN
How long does it take to sell a home in 55447, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 21 Days | -19.5% |
Summary: Homes in 55447 had an average of 21 days on market in Oct 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55447 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 55447; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
