$5,937 Closing Credit*
$499,928
1,996 SqFt
4 Beds
•2 Full Baths
Listing Office: Keller Williams Premier Realty
Is 55902, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55902 has remained a Seller's Market.
Key Takeaway
55902 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55902, MN
How much do homes in 55902, MN cost?
Median Sold Price
$438,266
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,600(+8.0%)
Key Takeaway
Homes in 55902 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 55902 was $438,266 in November 2024, up 8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212.5K | $173K | -18.6% |
| 2 Bedrooms | $224.9K | $266.2K | +18.4% |
| 3 Bedrooms | $325K | $380K | +16.9% |
| 4 Bedrooms | $467.7K | $487.5K | +4.2% |
| 5+ Bedrooms | $685K | $749.9K | +9.5% |
Summary: 55902 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.6%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 9.5%.
Housing Supply in 55902, MN
How many homes are available in 55902, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 144 | 141 | -2.1% |
Summary: The 55902 real estate market had 141 homes for sale in November 2024, a 2.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 17 | 19 | +11.8% |
| 3 Bedrooms | 29 | 27 | -6.9% |
| 4 Bedrooms | 50 | 47 | -6.0% |
| 5+ Bedrooms | 47 | 47 | 0.0% |
Summary: The 55902 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 increased by 11.8%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 26 | +8.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55902, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in 55902 in November 2024, up by 8.3% month-over-month. Of the 26 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 59 Days | 41 Days | -30.5% |
Summary: Homes in 55902 had an average of 41 days on market in Nov 2024, down by 30.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 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 November 2024, 26 homes were sold in 55902; 46% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
