Is 55604, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55604 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 55604 has remained a Seller's Market.

Key Takeaway

55604 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55604, MN

How much do homes in 55604, MN cost?

Median Sold Price

$460,000

$368/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$32,500(+7.6%)

Key Takeaway

Homes in 55604 have sold for 7.6% more than they did a month ago.

Summary: The median home sold price in 55604 was $460,000 in October 2024, up 7.6% from last month, and the median price per square foot was $368.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $327.5K$450K
+37.4%
2 $354K$440K
+24.3%
3 -$882.5K
N/A
4 $525K-
N/A
5+ --
N/A

Summary: 55604 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes increased by 37.4%, 2 bedroom homes increased by 24.3%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

55615
+122.2%
55604
+7.6%
55612
-25.8%

Housing Supply in 55604, MN

How many homes are available in 55604, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3940+2.6%

Summary: The 55604 real estate market had 40 homes for sale in October 2024, a 2.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 99
0.0%
2 1717
0.0%
3 79
+28.6%
4 65
-16.7%
5+ 00
0.0%

Summary: The 55604 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
810+25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55604, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 55604 in October 2024, up by 25.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for 55604, MN

How long does it take to sell a home in 55604, MN?

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days39 Days+65.5%

Summary: Homes in 55604 had an average of 39 days on market in Oct 2024, up by 65.5% compared to last month.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55604 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 10 homes were sold in 55604; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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 55604, MN

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