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Downtown Faribault (Downtown)

FARIBAULT, MN 55021

Real Estate Market Report  ·  Rice County
Buyer's Market
September 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 55021

Downtown Faribault (Downtown)

Market Analysis

Data as of September 2026. Source: Realtor.com.

The FARIBAULT, MN real estate market (55021) currently shows 129 active listings, with 24 pending sales. Homes are averaging 60 days on the market before going under contract.

Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 60 days on market compared to 43 days last year.

The median listing price has risen 0.6% year-over-year, from $396,225 to $398,750.

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Market Context

Market Context

Population: 30,973  ·  Density: 67.6/mi²  ·  Median household income: $66,742

Typical home value: $248,320  ·  Homeownership: 70.4%

Market Overview

Active Listings
129
⇧ 13.2% vs 114 last year
Pending
24
19% pending ratio
Median Price
$398,750
⇧ 0.6% vs $396,225 last year
Average Price
$441,956
⇩ 0.4% vs $443,509 last year
Days on Market
60
⇧ 39.5% vs 43 days last year

Price Per Square Foot

Median $/sqft
$184
⇧ 1.7% vs $181/sqft last year
Median Home Size
2,041 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 129 this year vs 114 last year
  • Days on market: 60 now vs 43 last year

Median & Average Pricing

Year over Year
  • Median: $398,750 (+0.6% YoY)
  • Average: $441,956 (-0.4% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 23.1 miles — 253 listings ($120,277,246 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
55021Faribault, MN 550210.0 mi75$30,691,800$340,975$409,224
55049Medford, MN 550498.5 mi4$1,139,800$269,900$284,950
55053Nerstrand, MN 5505310.9 mi1$875,000$875,000$875,000
55057Northfield, MN 5505713.0 mi75$49,253,850$468,225$656,718
55946Kenyon, MN 5594615.7 mi12$2,862,108$283,550$238,509
55018Dennison, MN 5501816.4 mi1$1,375,000$1,375,000$1,375,000
56096Waterville, MN 5609616.6 mi14$5,362,000$297,500$383,000
55054Elko New Market, MN 5505419.3 mi31$14,565,040$457,995$469,840
56093Waseca, MN 5609320.2 mi27$7,458,804$309,625$276,252
55065Randolph, MN 5506521.3 mi3$1,487,301$499,900$495,767
56028Elysian, MN 5602822.2 mi4$2,978,768$777,175$744,692
56046Hope, MN 5604622.8 mi1$319,900$319,900$319,900
56057Le Center, MN 5605723.1 mi5$1,907,875$327,450$381,575

Frequently Asked Questions

How many homes are for sale in FARIBAULT, MN 55021?

As of September 2026, there are 129 active listings in FARIBAULT, MN (zip code 55021), compared to 114 the prior year.

What is the median home price in FARIBAULT, MN 55021?

The median listing price in FARIBAULT, MN 55021 is $398,750 as of September 2026, a 0.6% increase from $396,225 the prior year.

How long do homes stay on the market in FARIBAULT, MN?

Homes in FARIBAULT, MN 55021 spend an average of 60 days on the market before going under contract, compared to 43 days the prior year.

Is it a seller's or buyer's market in FARIBAULT, MN 55021?

Based on current inventory and days-on-market data as of September 2026, FARIBAULT, MN 55021 is currently a Buyer's Market. Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 60 days on market compared to 43 days last year.

How much can I save on real estate commission in FARIBAULT, MN?

With SELL123.com's maximum 3% commission, sellers in FARIBAULT, MN 55021 save an estimated $7,975 compared to a typical 5% commission on the median listing price of $398,750. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.