$1,424 Closing Credit*
$119,900
825 SqFt
2 Beds
•1 Full Bath
Norma Jean Jofs, Listing Office: Next Door Realty
Is 55734, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 55734 was a Seller's Market.
Key Takeaway
55734 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55734, MN
How much do homes in 55734, MN cost?
Median Sold Price
$265,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$126,300(+91.1%)
Key Takeaway
Homes in 55734 have sold for 91.1% more than they did a year ago.
Summary: The median home sold price in 55734 was $265,000 in November 2024, up 91.1% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $252.5K | +320.8% |
| 2 Bedrooms | $95K | $246.7K | +159.8% |
| 3 Bedrooms | $136.2K | $270K | +98.2% |
| 4 Bedrooms | $304.2K | $245K | -19.5% |
| 5+ Bedrooms | $172.4K | $433K | +151.1% |
Summary: 55734 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 320.8%, 2 bedroom homes increased by 159.8%, 3 bedroom homes increased by 98.2%, 4 bedroom homes decreased by 19.5%, and 5+ bedroom homes increased by 151.1%.
Housing Supply in 55734, MN
How many homes are available in 55734, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Summary: The 55734 real estate market had 30 homes for sale in November 2024, a 3.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 55734 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55734, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 55734 in November 2024, down by 16.7% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 55734, MN
How long does it take to sell a home in 55734, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 68 Days | 17 Days | -74.9% |
Summary: Homes in 55734 had an average of 17 days on market in Nov 2024, down by 74.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55734 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in 55734; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
