$5,451 Closing Credit*
$459,000
3,504 SqFt
4 Beds
•2 Full Baths, 2 Partial
Listing Office: Edina Realty, Inc.
Is 55987, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 55987 has remained a Seller's Market.
Key Takeaway
55987 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 55987, MN
How much do homes in 55987, MN cost?
Median Sold Price
$234,166
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,166(+11.5%)
Key Takeaway
Homes in 55987 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 55987 was $234,166 in November 2024, up 11.5% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124K | $120.5K | -2.8% |
| 2 Bedrooms | $166.5K | $192.5K | +15.6% |
| 3 Bedrooms | $216.4K | $241.2K | +11.4% |
| 4 Bedrooms | $265K | $300K | +13.2% |
| 5+ Bedrooms | $311K | $415K | +33.4% |
Summary: 55987 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 33.4%.
Housing Supply in 55987, MN
How many homes are available in 55987, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 113 | 103 | -8.8% |
Summary: The 55987 real estate market had 103 homes for sale in November 2024, a 8.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 40 | 35 | -12.5% |
| 3 Bedrooms | 37 | 34 | -8.1% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The 55987 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 27 | -25.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 55987, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 55987 in November 2024, down by 25.0% month-over-month. Of the 27 sold homes, 48% were sold under asking, 22% were sold at asking, and 30% were sold over asking.
Days on Market for 55987, MN
How long does it take to sell a home in 55987, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 37 Days | +79.2% |
Summary: Homes in 55987 had an average of 37 days on market in Nov 2024, up by 79.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 55987 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 27 homes were sold in 55987; 41% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
