Home Values

55387 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$244,800

  • 7.8% 1-year change
  • 2.2% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cool

Buyers' Market
Sellers' Market

The median home value in 55387 is $244,800. 55387 home values have gone up 7.8% over the past year and Zillow predicts they will rise 2.2% within the next year. The median list price per square foot in 55387 is $144, which is the same as the Waconia average of $144. The median price of homes currently listed in 55387 is $299,900 while the median price of homes that sold is $219,850. The median rent price in 55387 is $1,195, which is the same as the Waconia median of $1,195.

Foreclosures will be a factor impacting home values in the next several years. In 55387 5.5 homes are foreclosed (per 10,000). This is lower than the Waconia value of 5.7 and also greater than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 55387 is 3.8%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 55387 homeowners underwater on their mortgage is 14.7%, which is the same as Waconia at 14.7%.

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Relative ZHVI
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55387 Market Overview

Data through Nov 30, 2014
  • $244,800 ZHVI
  • 2.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $299,900 Median listing price
  • $219,850 Median sale price
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55387 Market Health

Data through Nov 30, 2014
  • 4.6/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 14.7% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

5.5 homes 55387
5.7 homes Waconia
4.2 homes United States
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Nearby Zip Codes

Name Median ZHVI
55386 $343,000
55364 $260,400
55375 $249,900
Name Median ZHVI
55322 $244,600
55318 $244,500
55360 $211,600
Name Median ZHVI
55388 $201,500
 
 

Listings & Sales

Data through Nov 30, 2014
  • $144 Median list price / sq ft
  • $141 Median sale price / sq ft
  • No data Listings with price cut
27.4%
Sold below listing
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55387 Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,723 55387
    $1,684 Waconia
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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