Is 55944, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55944 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 55944 has remained a Seller's Market.

Key Takeaway

55944 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55944, MN

How much do homes in 55944, MN cost?

Median Sold Price

$319,450

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,500(+6.5%)

Key Takeaway

Homes in 55944 have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in 55944 was $319,450 in October 2024, up 6.5% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $159.9K-
N/A
2 $294.9K$295K
0.0%
3 $252.4K$275K
+8.9%
4 $317.9K$339.9K
+6.9%
5+ $397.2K$375K
-5.6%

Summary: 55944 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 5.6%.

Median Sold Price Compared To Nearby Zip Codes

55927
+10.6%
55944
+6.5%
55920
+6.2%

Housing Supply in 55944, MN

How many homes are available in 55944, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
43430.0%

Summary: The 55944 real estate market had 43 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 98
-11.1%
3 97
-22.2%
4 2224
+9.1%
5+ 34
+33.3%

Summary: The 55944 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 decreased by 11.1%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
713+85.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55944, expect to pay close to the asking price. 53.8% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in 55944 in October 2024, up by 85.7% month-over-month. Of the 13 sold homes, 38% were sold under asking, 54% were sold at asking, and 8% were sold over asking.

Days on Market for 55944, MN

How long does it take to sell a home in 55944, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days46 Days+212.3%

Summary: Homes in 55944 had an average of 46 days on market in Oct 2024, up by 212.3% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55944 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 55944; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 55944, MN

Nearby Markets to 55944, MN