55118 Housing Market Report April 2025•Dakota County, Minnesota

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Housing Prices in 55118, MN

How much do homes in 55118, MN cost?

Housing Market Conditions

Is 55118, MN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

55118 is a Seller's Market

Difference Since April 2024

Since last year, 55118 has remained a Seller's Market.

Insight

55118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$350,800$192/SqFt
+$8,850
+2.6%

Based on all homes sold in the last 12 months

Insight

Homes in 55118 have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in 55118 was $350,800 in April 2025, up 2.6% from last year, and the median price per square foot was $192.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
55107
+7.8%
55075
+3.8%
55118
+2.6%
55102
+1.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsApr 2024Apr 2025Change YoY
1$215K$130K
-39.5%
2$248.7K$255.2K
+2.6%
3$343K$361K
+5.2%
4$485K$465K
-4.1%
5$473.5K$867.4K
+83.2%

Summary: 55118 housing price by bedroom type for April 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -39.5%. The home price for 2 bedroom homes increased by +2.6%. The home price for 3 bedroom homes increased by +5.2%. The home price for 4 bedroom homes decreased by -4.1%. The home price for 5 bedroom homes increased by +83.2%.

How does 55118, MN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

55118, MN

Housing supply in 55118, MN

How many homes are available in 55118, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
109Last MonthApr 2025
932 months agoMar 2025
+17.2 %
Change MoMMar – Apr

Summary: The 55118 real estate market had 109 homes for sale in Apr 2025, a 17.2 % increase compared to Mar 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
37Last MonthApr 2025
192 months agoMar 2025
+94.7 %
Change MoMMar – Apr

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsMar 2025Apr 2025Change MoM
125
+150.0%
22526
+4.0%
33537
+5.7%
42229
+31.8%
5912
+33.3%

Summary: 55118 housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +150.0%. The inventory for 2 bedroom homes increased by +4.0%. The inventory for 3 bedroom homes increased by +5.7%. The inventory for 4 bedroom homes increased by +31.8%. The inventory for 5 bedroom homes increased by +33.3%.

Asking Price vs. Sold Price

How much do homes in 55118, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price17 Homes

At Asking Price7 Homes

Under Asking Price13 Homes

Insight

If you're buying a home in 55118, you could pay more than the asking price. 45.9% of homes here sold above asking price last month.

Summary: A total of 37 homes were sold or pending in 55118 in April 2025, up by 94.7% month-over-month. Of the 37 sold homes, 35% were sold under asking, 19% were sold at asking, and and 46% were sold over asking.

Days on Market for 55118, MN

How long does it take to sell a home in 55118, MN?

Breakdown of Home Sale Times

Under 30 Days25 Homes

30 – 90 Days6 Homes

Over 90 Days5 Homes

Insight

Many homes in 55118 are selling fast, if you're buying plan to act quickly.

Summary: During April 2025, 37 homes were sold in 55118; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
40 DaysThis YearApr 2025
17 Days1 year agoApr 2024
+128.8 %
Change YoYApr 2024 – Apr 2025

Summary: Homes in 55118 had an average listing age of 40 days in Apr 2025, up by 128.8% compared to the previous year.

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Newest Listings in 55118, MN

What homes are available in 55118, MN?

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Last updated on: 5/3/2025, 11:22:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.