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PELICAN RAPIDS, MN 56572

Real Estate Market Report  ·  Otter Tail County
Balanced Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
20
⇧ 5.3% vs 19 last year
Pending
3
15% pending ratio
Median Price
$455,000
⇧ 27.1% vs $358,100 last year
Average Price
$761,006
⇩ 5.3% vs $803,853 last year
Days on Market
82
⇩ 3.5% vs 85 days last year

Market Context

Population: 5,854  ·  Density: 13.2/mi²  ·  Median household income: $73,609

Typical home value: $266,163  ·  Homeownership: 82.8%

Market Analysis

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

The PELICAN RAPIDS, MN real estate market (56572) currently shows 20 active listings, with 3 pending sales. Homes are averaging 82 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 selling faster, averaging 82 days on market compared to 85 days last year.

The median listing price has risen 27.1% year-over-year, from $358,100 to $455,000.

Whether you are buying or selling in PELICAN RAPIDS, 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: 20 this year vs 19 last year
  • Days on market: 82 now vs 85 last year

Median & Average Pricing

Year over Year
  • Median: $455,000 (+27.1% YoY)
  • Average: $761,006 (-5.3% 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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 31.7 miles — 233 listings ($122,646,469 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
56572Pelican Rapids, MN 565720.0 mi20$15,220,120$455,000$761,006
56587Vergas, MN 5658710.9 mi3$1,638,000$489,000$546,000
56533Elizabeth, MN 5653314.2 mi1$179,000$179,000$179,000
56514Barnesville, MN 5651416.8 mi15$4,897,650$287,950$326,510
56554Lake Park, MN 5655419.3 mi8$3,489,024$499,000$436,128
56501Detroit Lakes, MN 5650120.3 mi72$39,295,440$415,000$545,770
56537Fergus Falls, MN 5653722.7 mi37$12,351,488$330,000$333,824
56573Perham, MN 5657325.4 mi29$29,047,444$369,500$1,001,636
56580Sabin, MN 5658026.5 mi4$2,229,800$557,450$557,450
56515Battle Lake, MN 5651528.1 mi16$6,298,928$259,900$393,683
56521Callaway, MN 5652128.5 mi2$548,900$274,450$274,450
56520Breckenridge, MN 5652029.7 mi25$7,023,225$279,900$280,929
56324Dalton, MN 5632431.7 mi1$427,450$427,450$427,450

Frequently Asked Questions

How many homes are for sale in PELICAN RAPIDS, MN 56572?

As of January 2026, there are 20 active listings in PELICAN RAPIDS, MN (zip code 56572), compared to 19 the prior year.

What is the median home price in PELICAN RAPIDS, MN 56572?

The median listing price in PELICAN RAPIDS, MN 56572 is $455,000 as of January 2026, a 27.1% increase from $358,100 the prior year.

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

Homes in PELICAN RAPIDS, MN 56572 spend an average of 82 days on the market before going under contract, compared to 85 days the prior year.

Is it a seller's or buyer's market in PELICAN RAPIDS, MN 56572?

Based on current inventory and days-on-market data as of January 2026, PELICAN RAPIDS, MN 56572 is currently a Balanced Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are selling faster, averaging 82 days on market compared to 85 days last year.

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

With SELL123.com's maximum 3% commission, sellers in PELICAN RAPIDS, MN 56572 save an estimated $9,100 compared to a typical 5% commission on the median listing price of $455,000. 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.