$3,800 Closing Credit*
$320,000
1,242 SqFt
2 Beds
•1 Full Bath
WJ River Rockenstein, Listing Office: Messina & Associates Real Estate
Is 55718, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55718 was a Neutral Market.
Key Takeaway
55718 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55718, MN
How much do homes in 55718, MN cost?
Median Sold Price
$375,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,000(+8.4%)
Key Takeaway
Homes in 55718 have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in 55718 was $375,000 in October 2024, up 8.4% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $253K | N/A |
| 2 Bedrooms | $174.4K | $312.5K | +79.1% |
| 3 Bedrooms | $347.5K | $395K | +13.7% |
| 4 Bedrooms | $397K | $400K | +0.8% |
| 5+ Bedrooms | $425K | $380K | -10.6% |
Summary: 55718 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 79.1%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 10.6%.
Median Sold Price Compared To Nearby Zip Codes
| 55718 | $346K | $375K | +8.4% |
| 55720 | $245K | $247.9K | +1.2% |
Housing Supply in 55718, MN
How many homes are available in 55718, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Summary: The 55718 real estate market had 19 homes for sale in October 2024, a 9.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 5 | 1 | -80.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55718 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55718, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 55718 in October 2024, up by 80.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for 55718, MN
How long does it take to sell a home in 55718, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 21 Days | -20.2% |
Summary: Homes in 55718 had an average of 21 days on market in Oct 2024, down by 20.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55718 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in 55718; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
