$1,424 Closing Credit*
$119,900
817 SqFt
1 Bed
•1 Bath
Listing Office: Gallery of Homes
Is 55748, 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, 55748 was a Seller's Market.
Key Takeaway
55748 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 55748, MN
How much do homes in 55748, MN cost?
Median Sold Price
$145,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$42,250(-22.6%)
Key Takeaway
Homes in 55748 have sold for 22.6% less than they did a year ago.
Summary: The median home sold price in 55748 was $145,000 in November 2024, down 22.6% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102.4K | $125K | +22.0% |
| 2 Bedrooms | $160K | $200K | +25.0% |
| 3 Bedrooms | $279K | $155K | -44.4% |
| 4 Bedrooms | $280K | $197K | -29.6% |
| 5+ Bedrooms | $415K | - | N/A |
Summary: 55748 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55744 | $252.5K | $279K | +10.5% |
| 55748 | $187.2K | $145K | -22.6% |
Housing Supply in 55748, MN
How many homes are available in 55748, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Summary: The 55748 real estate market had 12 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 55748 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55748, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in 55748 in November 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 55748, MN
How long does it take to sell a home in 55748, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 174 Days | 125 Days | -28.2% |
Summary: Homes in 55748 had an average of 125 days on market in Nov 2024, down by 28.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in 55748 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 1 homes were sold in 55748; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
