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TWO HARBORS, MN 55616

Real Estate Market Report  ·  Lake County
Buyer's Market
March 2026  ·  Source: Realtor.com

Market Analysis

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

The TWO HARBORS, MN real estate market (55616) currently shows 40 active listings, with 12 pending sales. Homes are averaging 63 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 63 days on market compared to 24 days last year.

The median listing price has fallen 21.6% year-over-year, from $354,450 to $278,000.

Whether you are buying or selling in TWO HARBORS, 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: 7,300  ·  Density: 5.9/mi²  ·  Median household income: $75,966

Typical home value: $217,979  ·  Homeownership: 81.2%

Market Overview

Active Listings
40
⇧ 2.6% vs 39 last year
Pending
12
30% pending ratio
Median Price
$278,000
⇩ 21.6% vs $354,450 last year
Average Price
$334,459
⇩ 10.9% vs $375,519 last year
Days on Market
63
⇧ 162.5% vs 24 days last year

Price Per Square Foot

Median $/sqft
$182
⇧ 1.7% vs $179/sqft last year
Median Home Size
1,610 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 40 this year vs 39 last year
  • Days on market: 63 now vs 24 last year

Median & Average Pricing

Year over Year
  • Median: $278,000 (-21.6% YoY)
  • Average: $334,459 (-10.9% 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 41.1 miles — 199 listings ($96,443,057 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
55616Two Harbors, MN 556160.0 mi42$12,666,024$242,475$301,572
55601Beaver Bay, MN 5560114.4 mi4$1,350,000$337,500$337,500
55803Duluth, MN 5580324.1 mi24$14,521,368$595,000$605,057
55804Duluth, MN 5580424.9 mi23$20,464,135$649,900$889,745
55607Isabella, MN 5560727.5 mi4$805,900$190,975$201,475
55705Aurora, MN 5570530.7 mi17$3,330,113$181,950$195,889
55724Cotton, MN 5572433.4 mi4$1,653,000$413,250$413,250
55741Gilbert, MN 5574136.4 mi12$3,581,796$357,225$298,483
55708Biwabik, MN 5570837.2 mi4$519,768$125,475$129,942
55811Duluth, MN 5581138.6 mi43$29,581,506$609,500$687,942
55732Embarrass, MN 5573239.2 mi2$893,900$446,950$446,950
55734Eveleth, MN 5573439.6 mi17$3,018,197$149,500$177,541
54827Cornucopia, WI 5482741.1 mi3$4,057,350$1,352,450$1,352,450

Frequently Asked Questions

How many homes are for sale in TWO HARBORS, MN 55616?

As of March 2026, there are 40 active listings in TWO HARBORS, MN (zip code 55616), compared to 39 the prior year.

What is the median home price in TWO HARBORS, MN 55616?

The median listing price in TWO HARBORS, MN 55616 is $278,000 as of March 2026, a 21.6% decrease from $354,450 the prior year.

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

Homes in TWO HARBORS, MN 55616 spend an average of 63 days on the market before going under contract, compared to 24 days the prior year.

Is it a seller's or buyer's market in TWO HARBORS, MN 55616?

Based on current inventory and days-on-market data as of March 2026, TWO HARBORS, MN 55616 is currently a Buyer's Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 63 days on market compared to 24 days last year.

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

With SELL123.com's maximum 3% commission, sellers in TWO HARBORS, MN 55616 save an estimated $5,560 compared to a typical 5% commission on the median listing price of $278,000. 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.