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FARMINGTON, MN 55024

Real Estate Market Report  ·  Dakota County
Balanced Market
April 2026  ·  Source: Realtor.com

Market Analysis

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

The FARMINGTON, MN real estate market (55024) currently shows 185 active listings, with 80 pending sales. Homes are averaging 45 days on the market before going under contract.

Inventory has increased compared to last year, with 24 more homes available — giving buyers more choice.

Homes are selling faster, averaging 45 days on market compared to 46 days last year.

The median listing price has fallen 6.6% year-over-year, from $481,250 to $449,490.

Whether you are buying or selling in FARMINGTON, MN, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 36,697  ·  Density: 166.5/mi²  ·  Median household income: $116,536

Typical home value: $329,150  ·  Homeownership: 88.2%

Market Overview

Active Listings
185
⇧ 14.9% vs 161 last year
Pending
80
43% pending ratio
Median Price
$449,490
⇩ 6.6% vs $481,250 last year
Average Price
$462,229
⇩ 3.3% vs $478,105 last year
Days on Market
45
⇩ 2.2% vs 46 days last year

Price Per Square Foot

Median $/sqft
$213
⇧ 0.5% vs $212/sqft last year
Median Home Size
2,026 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 185 this year vs 161 last year
  • Days on market: 45 now vs 46 last year

Median & Average Pricing

Year over Year
  • Median: $449,490 (-6.6% YoY)
  • Average: $462,229 (-3.3% 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 16.2 miles — 487 listings ($228,245,120 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
55024Farmington, MN 550240.0 mi139$65,235,202$469,889$469,318
55065Randolph, MN 550658.0 mi3$1,487,301$499,900$495,767
55031Hampton, MN 550318.5 mi5$1,728,365$299,900$345,673
55306Burnsville, MN 5530610.5 mi37$15,126,155$388,175$408,815
55054Elko New Market, MN 5505411.3 mi31$14,565,040$457,995$469,840
55123Saint Paul, MN 5512312.2 mi52$34,577,712$467,175$664,956
55122Saint Paul, MN 5512212.5 mi54$17,905,266$318,600$331,579
55088Webster, MN 5508814.0 mi5$3,543,375$708,675$708,675
55378Savage, MN 5537814.3 mi87$48,081,333$451,944$552,659
55076Inver Grove Heights, MN 5507615.1 mi51$17,286,399$299,900$338,949
55121Saint Paul, MN 5512115.1 mi12$3,344,472$272,425$278,706
55019Dundas, MN 5501915.8 mi10$3,989,500$416,225$398,950
55018Dennison, MN 5501816.2 mi1$1,375,000$1,375,000$1,375,000

Frequently Asked Questions

How many homes are for sale in FARMINGTON, MN 55024?

As of April 2026, there are 185 active listings in FARMINGTON, MN (zip code 55024), compared to 161 the prior year.

What is the median home price in FARMINGTON, MN 55024?

The median listing price in FARMINGTON, MN 55024 is $449,490 as of April 2026, a 6.6% decrease from $481,250 the prior year.

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

Homes in FARMINGTON, MN 55024 spend an average of 45 days on the market before going under contract, compared to 46 days the prior year.

Is it a seller's or buyer's market in FARMINGTON, MN 55024?

Based on current inventory and days-on-market data as of April 2026, FARMINGTON, MN 55024 is currently a Balanced Market. Inventory has increased compared to last year, with 24 more homes available — giving buyers more choice. Homes are selling faster, averaging 45 days on market compared to 46 days last year.

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

With SELL123.com's maximum 3% commission, sellers in FARMINGTON, MN 55024 save an estimated $8,990 compared to a typical 5% commission on the median listing price of $449,490. 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.