$2,803 Closing Credit*
$236,000
1,684 SqFt
4 Beds
•1 Full Bath
Listing Office: MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Is 55721, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 55721 has remained a Seller's Market.
Key Takeaway
55721 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55721, MN
How much do homes in 55721, MN cost?
Median Sold Price
$375,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$84,500(+29.1%)
Key Takeaway
Homes in 55721 have sold for 29.1% more than they did a year ago.
Summary: The median home sold price in 55721 was $375,000 in October 2024, up 29.1% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $158.8K | -43.3% |
| 2 Bedrooms | $300K | $241.2K | -19.6% |
| 3 Bedrooms | $285K | $375K | +31.6% |
| 4 Bedrooms | $445K | $447.5K | +0.6% |
| 5+ Bedrooms | $270K | $812.5K | +200.9% |
Summary: 55721 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.3%, 2 bedroom homes decreased by 19.6%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 200.9%.
Housing Supply in 55721, MN
How many homes are available in 55721, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Summary: The 55721 real estate market had 10 homes for sale in October 2024, a 9.1% 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55721 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 decreased by 66.7%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 55721, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 55721 in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for 55721, MN
How long does it take to sell a home in 55721, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 93 Days | 24 Days | -73.9% |
Summary: Homes in 55721 had an average of 24 days on market in Oct 2024, down by 73.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55721 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in 55721; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
