Is 55744, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55744 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55744 has remained a Seller's Market.

Key Takeaway

55744 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55744, MN

How much do homes in 55744, MN cost?

Median Sold Price

$275,000

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,500(+11.1%)

Key Takeaway

Homes in 55744 have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in 55744 was $275,000 in October 2024, up 11.1% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $87.5K$124.5K
+42.3%
2 $232K$216K
-6.9%
3 $229.8K$247.4K
+7.7%
4 $316.9K$320K
+1.0%
5+ $665K$431.9K
-35.0%

Summary: 55744 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.3%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 35%.

Median Sold Price Compared To Nearby Zip Codes

55722
+56.6%
55721
+29.1%
55793
+26.8%
55709
+19.0%
55744
+11.1%

Housing Supply in 55744, MN

How many homes are available in 55744, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8982-7.9%

Summary: The 55744 real estate market had 82 homes for sale in October 2024, a 7.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 20
-100.0%
2 2319
-17.4%
3 3631
-13.9%
4 2225
+13.6%
5+ 67
+16.7%

Summary: The 55744 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 17.4%, 3 bedroom homes decreased by 13.9%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2620-23.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55744, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in 55744 in October 2024, down by 23.1% month-over-month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.

Days on Market for 55744, MN

How long does it take to sell a home in 55744, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days52 Days+60.7%

Summary: Homes in 55744 had an average of 52 days on market in Oct 2024, up by 60.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 55744 has remained consistent over time.

Summary: During October 2024, 20 homes were sold in 55744; 25% of homes were sold within 30 days, 65% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in 55744, MN

Nearby Markets to 55744, MN