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MANKATO, MN 56003

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

Market Analysis

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

The MANKATO, MN real estate market (56003) currently shows 56 active listings, with 29 pending sales. Homes are averaging 30 days on the market before going under contract.

Inventory levels are unchanged compared to last year.

Homes are selling faster, averaging 30 days on market compared to 37 days last year.

The median listing price has fallen 16.7% year-over-year, from $460,450 to $383,575.

Whether you are buying or selling in MANKATO, 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: 15,360  ·  Density: 134.8/mi²  ·  Median household income: $77,290

Typical home value: $241,513  ·  Homeownership: 76.5%

Market Overview

Active Listings
56
vs 56 last year
Pending
29
52% pending ratio
Median Price
$383,575
⇩ 16.7% vs $460,450 last year
Average Price
$419,817
⇩ 14.7% vs $492,210 last year
Days on Market
30
⇩ 18.9% vs 37 days last year

Price Per Square Foot

Median $/sqft
$164
⇧ 11.6% vs $147/sqft last year
Median Home Size
2,370 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Days on market: 30 now vs 37 last year

Median & Average Pricing

Year over Year
  • Median: $383,575 (-16.7% YoY)
  • Average: $419,817 (-14.7% 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 25.3 miles — 210 listings ($81,055,374 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
56003Mankato, MN 560030.0 mi31$12,272,714$344,925$395,894
56001Mankato, MN 560017.8 mi107$42,479,535$319,900$397,005
56055Lake Crystal, MN 560559.8 mi15$3,924,390$229,900$261,626
56024Eagle Lake, MN 5602412.9 mi8$3,311,304$374,900$413,913
56037Good Thunder, MN 5603713.7 mi4$1,379,868$406,900$344,967
56017Cleveland, MN 5601714.8 mi8$4,661,232$609,900$582,654
56028Elysian, MN 5602818.7 mi4$2,978,768$777,175$744,692
56062Madelia, MN 5606219.8 mi5$1,374,500$309,900$274,900
56048Janesville, MN 5604820.2 mi7$2,631,356$321,975$375,908
56065Mapleton, MN 5606521.1 mi8$1,853,832$149,900$231,729
56057Le Center, MN 5605722.1 mi5$1,907,875$327,450$381,575
55334Gaylord, MN 5533423.1 mi6$1,392,000$232,000$232,000
56044Henderson, MN 5604425.3 mi2$888,000$444,000$444,000

Frequently Asked Questions

How many homes are for sale in MANKATO, MN 56003?

As of April 2026, there are 56 active listings in MANKATO, MN (zip code 56003), compared to 56 the prior year.

What is the median home price in MANKATO, MN 56003?

The median listing price in MANKATO, MN 56003 is $383,575 as of April 2026, a 16.7% decrease from $460,450 the prior year.

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

Homes in MANKATO, MN 56003 spend an average of 30 days on the market before going under contract, compared to 37 days the prior year.

Is it a seller's or buyer's market in MANKATO, MN 56003?

Based on current inventory and days-on-market data as of April 2026, MANKATO, MN 56003 is currently a Balanced Market. Inventory levels are unchanged compared to last year. Homes are selling faster, averaging 30 days on market compared to 37 days last year.

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

With SELL123.com's maximum 3% commission, sellers in MANKATO, MN 56003 save an estimated $7,672 compared to a typical 5% commission on the median listing price of $383,575. 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.