$6,234 Closing Credit*
$525,000
1,580 SqFt
3 Beds
•1 Full Bath
Jacob Morgan, Listing Office: Morgan Realty
Is 55707, 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, 55707 has remained a Seller's Market.
Key Takeaway
55707 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55707, MN
How much do homes in 55707, MN cost?
Median Sold Price
$379,900
$150/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$77,600(-17.0%)
Key Takeaway
Homes in 55707 have sold for 17% less than they did a month ago.
Summary: The median home sold price in 55707 was $379,900 in November 2024, down 17% from last month, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $117K | N/A |
| 2 Bedrooms | $212K | $117.5K | -44.6% |
| 3 Bedrooms | $1.1M | $307.4K | -72.0% |
| 4 Bedrooms | $457.5K | $400K | -12.6% |
| 5+ Bedrooms | - | $665K | N/A |
Summary: 55707 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 44.6%, 3 bedroom homes decreased by 72%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55767 | $232.5K | $412.5K | +77.4% |
| 55718 | $362K | $325K | -10.2% |
| 55707 | $457.5K | $379.9K | -17.0% |
Housing Supply in 55707, MN
How many homes are available in 55707, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 19 | -26.9% |
Summary: The 55707 real estate market had 19 homes for sale in November 2024, a 26.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 55707 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 40%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55707, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in 55707 in November 2024, up by 83.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for 55707, MN
How long does it take to sell a home in 55707, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 Days | 19 Days | -58.7% |
Summary: Homes in 55707 had an average of 19 days on market in Nov 2024, down by 58.7% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55707 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 55707; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
