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FAIRMONT, MN 56031

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

Market Analysis

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

The FAIRMONT, MN real estate market (56031) currently shows 52 active listings, with 14 pending sales. Homes are averaging 100 days on the market before going under contract.

Inventory has increased compared to last year, with 23 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 100 days on market compared to 77 days last year.

The median listing price has risen 14.3% year-over-year, from $224,900 to $256,975.

Whether you are buying or selling in FAIRMONT, 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: 11,861  ·  Density: 29.3/mi²  ·  Median household income: $58,647

Typical home value: $162,799  ·  Homeownership: 68.5%

Market Overview

Active Listings
52
⇧ 79.3% vs 29 last year
Pending
14
27% pending ratio
Median Price
$256,975
⇧ 14.3% vs $224,900 last year
Average Price
$298,938
⇧ 4.1% vs $287,190 last year
Days on Market
100
⇧ 29.9% vs 77 days last year

Price Per Square Foot

Median $/sqft
$125
⇩ 3.8% vs $130/sqft last year
Median Home Size
2,065 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 52 this year vs 29 last year
  • Days on market: 100 now vs 77 last year

Median & Average Pricing

Year over Year
  • Median: $256,975 (+14.3% YoY)
  • Average: $298,938 (+4.1% 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
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 25.1 miles — 106 listings ($25,573,936 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
56031Fairmont, MN 560310.0 mi50$14,723,900$259,600$294,478
56181Welcome, MN 561818.4 mi6$2,087,682$322,250$347,947
50531Dolliver, IA 5053113.5 mi1$199,900$199,900$199,900
50514Armstrong, IA 5051414.4 mi5$859,875$171,975$171,975
56047Huntley, MN 5604715.4 mi1$110,000$110,000$110,000
50590Swea City, IA 5059017.1 mi3$282,750$94,250$94,250
56098Winnebago, MN 5609817.6 mi10$1,411,830$138,800$141,183
56013Blue Earth, MN 5601318.0 mi21$4,279,149$199,450$203,769
56027Elmore, MN 5602718.6 mi4$520,000$130,000$130,000
56060Lewisville, MN 5606021.5 mi1$159,950$159,950$159,950
50578Ringsted, IA 5057822.6 mi1$419,000$419,000$419,000
56010Amboy, MN 5601023.5 mi1$209,900$209,900$209,900
50517Bancroft, IA 5051725.1 mi2$310,000$155,000$155,000

Frequently Asked Questions

How many homes are for sale in FAIRMONT, MN 56031?

As of March 2026, there are 52 active listings in FAIRMONT, MN (zip code 56031), compared to 29 the prior year.

What is the median home price in FAIRMONT, MN 56031?

The median listing price in FAIRMONT, MN 56031 is $256,975 as of March 2026, a 14.3% increase from $224,900 the prior year.

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

Homes in FAIRMONT, MN 56031 spend an average of 100 days on the market before going under contract, compared to 77 days the prior year.

Is it a seller's or buyer's market in FAIRMONT, MN 56031?

Based on current inventory and days-on-market data as of March 2026, FAIRMONT, MN 56031 is currently a Buyer's Market. Inventory has increased compared to last year, with 23 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 100 days on market compared to 77 days last year.

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

With SELL123.com's maximum 3% commission, sellers in FAIRMONT, MN 56031 save an estimated $5,140 compared to a typical 5% commission on the median listing price of $256,975. 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.