Is 55812, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55812 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 55812 has remained a Seller's Market.

Key Takeaway

55812 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55812, MN

How much do homes in 55812, MN cost?

Median Sold Price

$337,000

$189/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$84,500(+33.5%)

Key Takeaway

Homes in 55812 have sold for 33.5% more than they did a month ago.

Summary: The median home sold price in 55812 was $337,000 in October 2024, up 33.5% from last month, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$337K
N/A
3 $247.2K$331.2K
+34.0%
4 -$340K
N/A
5+ $395K$334.5K
-15.3%

Summary: 55812 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 34%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 15.3%.

Housing Supply in 55812, MN

How many homes are available in 55812, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2930+3.4%

Summary: The 55812 real estate market had 30 homes for sale in October 2024, a 3.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 57
+40.0%
3 118
-27.3%
4 69
+50.0%
5+ 76
-14.3%

Summary: The 55812 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 increased by 40%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55812, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 55812 in October 2024, down by 14.3% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.

Days on Market for 55812, MN

How long does it take to sell a home in 55812, MN?

Average Sale Time

Sep 2024Oct 2024CHANGE
20 Days21 Days+4.3%

Summary: Homes in 55812 had an average of 21 days on market in Oct 2024, up by 4.3% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55812 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 55812; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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

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