Is 55981, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55981 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55981 was a Buyer's Market.

Key Takeaway

55981 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 55981, MN

How much do homes in 55981, MN cost?

Median Sold Price

$268,900

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,450(+6.1%)

Key Takeaway

Homes in 55981 have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in 55981 was $268,900 in October 2024, up 6.1% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $227K$226K
-0.4%
2 $258.4K$235K
-9.1%
3 $245K$278.7K
+13.8%
4 $337.5K$292.5K
-13.3%
5+ -$352.5K
N/A

Summary: 55981 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

55981
+6.1%
55945
-20.3%

Housing Supply in 55981, MN

How many homes are available in 55981, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1416+14.3%

Summary: The 55981 real estate market had 16 homes for sale in October 2024, a 14.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 46
+50.0%
4 44
0.0%
5+ 12
+100.0%

Summary: The 55981 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 20%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55981, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 55981 in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for 55981, MN

How long does it take to sell a home in 55981, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
3 Days43 Days+1142.9%

Summary: Homes in 55981 had an average of 43 days on market in Oct 2024, up by 1142.9% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55981 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in 55981; 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.

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

Report Updated 4 Days Ago

Newest Listings in 55981, MN

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