$7,422 Closing Credit*
$624,990
2,786 SqFt
4 Beds
•3 Full Baths, 1 Partial
Listing Office: Lennar Sales Corp
Is 55906, 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, 55906 has remained a Seller's Market.
Key Takeaway
55906 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55906, MN
How much do homes in 55906, MN cost?
Median Sold Price
$365,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+5.8%)
Key Takeaway
Homes in 55906 have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in 55906 was $365,000 in November 2024, up 5.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132K | $156K | +18.2% |
| 2 Bedrooms | $224.8K | $238.4K | +6.0% |
| 3 Bedrooms | $265.5K | $300K | +13.0% |
| 4 Bedrooms | $413.1K | $432.5K | +4.7% |
| 5+ Bedrooms | $615K | $652.5K | +6.1% |
Summary: 55906 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Zip Codes
| 55906 | $345K | $365K | +5.8% |
| 55901 | $306.9K | $317K | +3.3% |
Housing Supply in 55906, MN
How many homes are available in 55906, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 115 | 110 | -4.3% |
Summary: The 55906 real estate market had 110 homes for sale in November 2024, a 4.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 37 | 32 | -13.5% |
| 4 Bedrooms | 43 | 42 | -2.3% |
| 5+ Bedrooms | 22 | 24 | +9.1% |
Summary: The 55906 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 decreased by 7.7%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 19 | -24.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55906, expect to pay close to the asking price. 47.4% of homes here sold near the asking price last month.
Summary: A total of 19 homes were sold or pending in 55906 in November 2024, down by 24.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 47% were sold at asking, and 16% were sold over asking.
Days on Market for 55906, MN
How long does it take to sell a home in 55906, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 37 Days | +8.8% |
Summary: Homes in 55906 had an average of 37 days on market in Nov 2024, up by 8.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55906 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in 55906; 58% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
