$1,781 Closing Credit*
$150,000
3,231 SqFt
3 Beds
•2 Full Baths
Listing Office: Coldwell Banker Realty
Is 55971, 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, 55971 has remained a Seller's Market.
Key Takeaway
55971 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55971, MN
How much do homes in 55971, MN cost?
Median Sold Price
$242,450
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,700(+25.1%)
Key Takeaway
Homes in 55971 have sold for 25.1% more than they did a year ago.
Summary: The median home sold price in 55971 was $242,450 in October 2024, up 25.1% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $121.5K | $275K | +126.3% |
| 2 Bedrooms | $150K | $239.9K | +59.9% |
| 3 Bedrooms | $250K | $196K | -21.6% |
| 4 Bedrooms | $305K | $260K | -14.8% |
| 5+ Bedrooms | $530K | - | N/A |
Summary: 55971 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 126.3%, 2 bedroom homes increased by 59.9%, 3 bedroom homes decreased by 21.6%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 55971 | $193.7K | $242.4K | +25.1% |
| 55987 | $206K | $232.1K | +12.7% |
| 55952 | $271K | $293.5K | +8.3% |
| 55943 | $328.4K | $217K | -33.9% |
Housing Supply in 55971, MN
How many homes are available in 55971, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The 55971 real estate market had 11 homes for sale in October 2024, a 22.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 55971 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55971, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 55971 in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 55971, MN
How long does it take to sell a home in 55971, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 51 Days | 75 Days | +46.3% |
Summary: Homes in 55971 had an average of 75 days on market in Oct 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 55971 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 55971; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
