$2,731 Closing Credit*
$230,000
1,820 SqFt
4 Beds
•2 Full Baths
Listing Office: Elcor Realty of Rochester Inc.
Is 55901, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 55901 has remained a Seller's Market.
Key Takeaway
55901 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55901, MN
How much do homes in 55901, MN cost?
Median Sold Price
$315,812
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,312(+3.4%)
Key Takeaway
Homes in 55901 have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in 55901 was $315,812 in October 2024, up 3.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $97.2K | -2.8% |
| 2 Bedrooms | $232.9K | $242.4K | +4.1% |
| 3 Bedrooms | $280K | $285K | +1.8% |
| 4 Bedrooms | $347.9K | $354.3K | +1.8% |
| 5+ Bedrooms | $454K | $450K | -0.9% |
Summary: 55901 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 55901, MN
How many homes are available in 55901, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 240 | 230 | -4.2% |
Summary: The 55901 real estate market had 230 homes for sale in October 2024, a 4.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 45 | 47 | +4.4% |
| 3 Bedrooms | 69 | 69 | 0.0% |
| 4 Bedrooms | 97 | 84 | -13.4% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The 55901 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 4.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 13.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 70 | +6.1% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55901, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 70 homes were sold or pending in 55901 in October 2024, up by 6.1% month-over-month. Of the 70 sold homes, 36% were sold under asking, 31% were sold at asking, and 33% were sold over asking.
Days on Market for 55901, MN
How long does it take to sell a home in 55901, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 33 Days | +9.6% |
Summary: Homes in 55901 had an average of 33 days on market in Oct 2024, up by 9.6% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55901 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 70 homes were sold in 55901; 64% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
