$75,000
Land
Listing Office: eXp Realty
Is 55723, 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, 55723 was a Buyer's Market.
Key Takeaway
55723 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55723, MN
How much do homes in 55723, MN cost?
Median Sold Price
$420,000
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,000(+10.5%)
Key Takeaway
Homes in 55723 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 55723 was $420,000 in October 2024, up 10.5% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $200K | +5.3% |
| 2 Bedrooms | $490K | $460K | -6.1% |
| 3 Bedrooms | $330K | $329K | -0.3% |
| 4 Bedrooms | $228.5K | $502K | +119.7% |
| 5+ Bedrooms | $490K | - | N/A |
Summary: 55723 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 119.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55723 | $380K | $420K | +10.5% |
| 56628 | $322.4K | $250.9K | -22.2% |
Housing Supply in 55723, MN
How many homes are available in 55723, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Summary: The 55723 real estate market had 27 homes for sale in October 2024, a 15.6% 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 | 21 | 18 | -14.3% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55723 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 14.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55723, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 55723 in October 2024, the same as the previous month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for 55723, MN
How long does it take to sell a home in 55723, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 32 Days | +78.9% |
Summary: Homes in 55723 had an average of 32 days on market in Oct 2024, up by 78.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 55723 has remained consistent over time.
Summary: During October 2024, 5 homes were sold in 55723; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
