$3,859 Closing Credit*
$325,000
2,150 SqFt
4 Beds
•2 Full Baths
#1899671, Angie Wilson, Listing Office: Gerrard-Hoeschler, REALTORS
Is 55947, 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, 55947 has remained a Seller's Market.
Key Takeaway
55947 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55947, MN
How much do homes in 55947, MN cost?
Median Sold Price
$350,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,000(+11.1%)
Key Takeaway
Homes in 55947 have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in 55947 was $350,000 in October 2024, up 11.1% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $168.7K | $240.5K | +42.5% |
| 3 Bedrooms | $315K | $320K | +1.6% |
| 4 Bedrooms | $385K | $480K | +24.7% |
| 5+ Bedrooms | $569K | $475K | -16.5% |
Summary: 55947 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 increased by 42.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 24.7%, and 5+ bedroom homes decreased by 16.5%.
Housing Supply in 55947, MN
How many homes are available in 55947, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Summary: The 55947 real estate market had 17 homes for sale in October 2024, a 10.5% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 55947 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 100%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55947, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 55947 in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 55947, MN
How long does it take to sell a home in 55947, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 26 Days | 14 Days | -46.2% |
Summary: Homes in 55947 had an average of 14 days on market in Oct 2024, down by 46.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55947 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 55947; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
