$4,691 Closing Credit*
$395,000
2,706 SqFt
4 Beds
•3 Full Baths
Listing Office: Keller Williams Realty Integrity
Is 55902, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 55902 was a Seller's Market.
Key Takeaway
55902 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 55902, MN
How much do homes in 55902, MN cost?
Median Sold Price
$427,100
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,100(+5.5%)
Key Takeaway
Homes in 55902 have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in 55902 was $427,100 in October 2024, up 5.5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $136.5K | -36.5% |
| 2 Bedrooms | $228.7K | $255K | +11.5% |
| 3 Bedrooms | $325K | $377.9K | +16.3% |
| 4 Bedrooms | $457.7K | $487.5K | +6.5% |
| 5+ Bedrooms | $694.9K | $757.5K | +9.0% |
Summary: 55902 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.5%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 9%.
Housing Supply in 55902, MN
How many homes are available in 55902, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 161 | 158 | -1.9% |
Summary: The 55902 real estate market had 158 homes for sale in October 2024, a 1.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 35 | 31 | -11.4% |
| 4 Bedrooms | 57 | 56 | -1.8% |
| 5+ Bedrooms | 52 | 53 | +1.9% |
Summary: The 55902 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 6.3%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 1.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55902, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 55902 in October 2024, down by 17.2% month-over-month. Of the 24 sold homes, 63% were sold under asking, 8% were sold at asking, and 29% were sold over asking.
Days on Market for 55902, MN
How long does it take to sell a home in 55902, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 57 Days | +91.2% |
Summary: Homes in 55902 had an average of 57 days on market in Oct 2024, up by 91.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55902 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 55902; 50% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
