$5,461 Closing Credit*
$459,900
3,296 SqFt
4 Beds
•2 Full Baths
Listing Office: Edina Realty, Inc.
Is 55906, 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, 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
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,100(+7.4%)
Key Takeaway
Homes in 55906 have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in 55906 was $365,000 in October 2024, up 7.4% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132K | $156K | +18.2% |
| 2 Bedrooms | $224.7K | $238.4K | +6.1% |
| 3 Bedrooms | $265K | $295K | +11.3% |
| 4 Bedrooms | $409.9K | $439.8K | +7.3% |
| 5+ Bedrooms | $575.5K | $620K | +7.7% |
Summary: 55906 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Zip Codes
| 55906 | $339.9K | $365K | +7.4% |
| 55901 | $305.5K | $315.8K | +3.4% |
Housing Supply in 55906, MN
How many homes are available in 55906, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 110 | 120 | +9.1% |
Summary: The 55906 real estate market had 120 homes for sale in October 2024, a 9.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 36 | 39 | +8.3% |
| 4 Bedrooms | 39 | 44 | +12.8% |
| 5+ Bedrooms | 23 | 24 | +4.3% |
Summary: The 55906 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 8.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 23 | -4.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55906, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 55906 in October 2024, down by 4.2% month-over-month. Of the 23 sold homes, 48% were sold under asking, 22% were sold at asking, and 30% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 60 Days | 45 Days | -24.5% |
Summary: Homes in 55906 had an average of 45 days on market in Oct 2024, down by 24.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 23 homes were sold in 55906; 48% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
