$2,078 Closing Credit*
$175,000
1,120 SqFt
2 Beds
•1 Full Bath
Jacob Patten, Listing Office: Red Pine Realty
Is 55604, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $327.5K | $450K | +37.4% |
| 2 Bedrooms | $354K | $440K | +24.3% |
| 3 Bedrooms | - | $882.5K | N/A |
| 4 Bedrooms | $525K | - | N/A |
| 5+ Bedrooms | - | - | 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 | $675K | $1.5M | +122.2% |
| 55604 | $427.5K | $460K | +7.6% |
| 55612 | $485K | $360K | -25.8% |
Housing Supply in 55604, MN
How many homes are available in 55604, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 40 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 17 | 17 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +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
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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 39 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
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.
