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FARMINGTON, MN 55024

Real Estate Market Report  ·  Dakota County
Buyer's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
140
⇧ 11.1% vs 126 last year
Pending
53
38% pending ratio
Median Price
$467,000
⇩ 1.7% vs $475,000 last year
Average Price
$472,499
⇧ 0.1% vs $471,983 last year
Days on Market
61
⇧ 48.8% vs 41 days last year

Market Context

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

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

Market Analysis

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

The FARMINGTON, MN real estate market (55024) currently shows 140 active listings, with 53 pending sales. Homes are averaging 61 days on the market before going under contract.

Inventory has increased compared to last year, with 14 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 61 days on market compared to 41 days last year.

The median listing price has fallen 1.7% year-over-year, from $475,000 to $467,000.

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 Trends

Inventory & Days on Market

Year over Year
  • Listings: 140 this year vs 126 last year
  • Days on market: 61 now vs 41 last year

Median & Average Pricing

Year over Year
  • Median: $467,000 (-1.7% YoY)
  • Average: $472,499 (+0.1% 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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 16.2 miles — 431 listings ($203,475,746 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
55024Farmington, MN 550240.0 mi140$66,149,860$467,000$472,499
55065Randolph, MN 550658.0 mi3$1,499,799$499,900$499,933
55031Hampton, MN 550318.5 mi1$448,950$448,950$448,950
55306Burnsville, MN 5530610.5 mi28$11,502,708$385,000$410,811
55054Elko New Market, MN 5505411.3 mi26$12,407,876$467,990$477,226
55123Saint Paul, MN 5512312.2 mi48$31,979,904$422,500$666,248
55122Saint Paul, MN 5512212.5 mi46$15,641,978$315,000$340,043
55088Webster, MN 5508814.0 mi3$2,489,700$829,900$829,900
55378Savage, MN 5537814.3 mi75$40,982,850$450,000$546,438
55076Inver Grove Heights, MN 5507615.1 mi42$13,623,582$299,450$324,371
55121Saint Paul, MN 5512115.1 mi11$2,754,279$257,450$250,389
55019Dundas, MN 5501915.8 mi7$2,619,260$404,950$374,180
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 January 2026, there are 140 active listings in FARMINGTON, MN (zip code 55024), compared to 126 the prior year.

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

The median listing price in FARMINGTON, MN 55024 is $467,000 as of January 2026, a 1.7% decrease from $475,000 the prior year.

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

Homes in FARMINGTON, MN 55024 spend an average of 61 days on the market before going under contract, compared to 41 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 January 2026, FARMINGTON, MN 55024 is currently a Buyer's Market. Inventory has increased compared to last year, with 14 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 61 days on market compared to 41 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 $9,340 compared to a typical 5% commission on the median listing price of $467,000. 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.