Is 55448, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55448 is a seller's market

Buyer's
Market

Difference Since October 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

$338,600

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,600(+3.5%)

Key Takeaway

Homes in 55448 have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in 55448 was $338,600 in October 2024, up 3.5% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $123.2K$127K
+3.1%
2 $233K$248K
+6.4%
3 $310K$327.2K
+5.6%
4 $363.5K$380K
+4.5%
5+ $420K$392.4K
-6.6%

Summary: 55448 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 6.6%.

Median Sold Price Compared To Nearby Zip Codes

55448
+3.5%
55434
+3.1%
55304
+2.5%
55433
+1.0%
55303
-0.9%

Housing Supply in 55448, MN

How many homes are available in 55448, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
113118+4.4%

Summary: The 55448 real estate market had 118 homes for sale in October 2024, a 4.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 2526
+4.0%
3 3537
+5.7%
4 4146
+12.2%
5+ 129
-25.0%

Summary: The 55448 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 4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3534-2.9%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55448, expect to pay close to the asking price. 35.3% of homes here sold near the asking price last month.

Summary: A total of 34 homes were sold or pending in 55448 in October 2024, down by 2.9% month-over-month. Of the 34 sold homes, 29% were sold under asking, 35% were sold at asking, and 35% 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

Oct 2023Oct 2024CHANGE
30 Days25 Days-15.8%

Summary: Homes in 55448 had an average of 25 days on market in Oct 2024, down by 15.8% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55448 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 34 homes were sold in 55448; 68% of homes were sold within 30 days, 32% 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 21 Days Ago

Newest Listings in 55448, MN

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