Is 55790, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55790 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55790 was a Buyer's Market.

Key Takeaway

55790 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55790, MN

How much do homes in 55790, MN cost?

Median Sold Price

$395,000

$322/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$150,000(-27.5%)

Key Takeaway

Homes in 55790 have sold for 27.5% less than they did a year ago.

Summary: The median home sold price in 55790 was $395,000 in October 2024, down 27.5% from last year, and the median price per square foot was $322.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $368.5K$124.9K
-66.1%
2 $522K$390K
-25.3%
3 $560K$475K
-15.2%
4 $742.7K$110K
-85.2%
5+ $325K-
N/A

Summary: 55790 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 66.1%, 2 bedroom homes decreased by 25.3%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes decreased by 85.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

55731
-21.1%
55790
-27.5%

Housing Supply in 55790, MN

How many homes are available in 55790, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4335-18.6%

Summary: The 55790 real estate market had 35 homes for sale in October 2024, a 18.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 86
-25.0%
2 2214
-36.4%
3 1314
+7.7%
4 01
+100.0%
5+ 00
0.0%

Summary: The 55790 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
129-25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55790, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 55790 in October 2024, down by 25.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.

Days on Market for 55790, MN

How long does it take to sell a home in 55790, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days136 Days+415.7%

Summary: Homes in 55790 had an average of 136 days on market in Oct 2024, up by 415.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55790 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 55790; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 4 Days Ago

Newest Listings in 55790, MN

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