$5,641 Closing Credit*
$475,000
3,238 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Edina Realty, Inc.
Is 55448, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55448 has remained a Seller's Market.
Key Takeaway
55448 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55448, MN
How much do homes in 55448, MN cost?
Median Sold Price
$341,350
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$11,350(+3.4%)
Key Takeaway
Homes in 55448 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 55448 was $341,350 in November 2024, up 3.4% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123.2K | $127K | +3.1% |
| 2 Bedrooms | $237K | $239.9K | +1.2% |
| 3 Bedrooms | $310K | $327.5K | +5.6% |
| 4 Bedrooms | $369.9K | $380K | +2.7% |
| 5+ Bedrooms | $421.2K | $399.9K | -5.0% |
Summary: 55448 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 5%.
Housing Supply in 55448, MN
How many homes are available in 55448, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 113 | 97 | -14.2% |
Summary: The 55448 real estate market had 97 homes for sale in November 2024, a 14.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 24 | 22 | -8.3% |
| 3 Bedrooms | 39 | 37 | -5.1% |
| 4 Bedrooms | 41 | 31 | -24.4% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The 55448 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes decreased by 24.4%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 25 | -32.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55448, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 55448 in November 2024, down by 32.4% month-over-month. Of the 25 sold homes, 16% were sold under asking, 16% were sold at asking, and 68% were sold over asking.
Days on Market for 55448, MN
How long does it take to sell a home in 55448, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 23 Days | -9.8% |
Summary: Homes in 55448 had an average of 23 days on market in Nov 2024, down by 9.8% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55448 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 25 homes were sold in 55448; 76% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
