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OAK ISLAND, MN 56741

Real Estate Market Report  ·  Lake of the Woods County
Balanced Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
2
vs 2 last year
Pending
1
50% pending ratio
Median Price
$537,000
⇧ 2.5% vs $524,000 last year
Average Price
$537,000
⇧ 2.5% vs $524,000 last year
Days on Market
130
⇩ 29.3% vs 184 days last year

Market Context

Population: 0  ·  Density: 0.0/mi²  ·  Median household income: $0

Typical home value: $0  ·  Homeownership: 0.0%

Market Analysis

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

The OAK ISLAND, MN real estate market (56741) currently shows 2 active listings, with 1 pending sales. Homes are averaging 130 days on the market before going under contract.

Inventory levels are unchanged compared to last year.

Homes are selling faster, averaging 130 days on market compared to 184 days last year.

The median listing price has risen 2.5% year-over-year, from $524,000 to $537,000.

Whether you are buying or selling in OAK ISLAND, 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
  • Days on market: 130 now vs 184 last year

Median & Average Pricing

Year over Year
  • Median: $537,000 (+2.5% YoY)
  • Average: $537,000 (+2.5% 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 0.0 miles — 41 listings ($12,292,891 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
56741Oak Island, MN 567410.0 mi2$1,074,000$537,000$537,000
56686Williams, MN 5668636.3 mi3$752,901$210,000$250,967
56673Roosevelt, MN 5667341.3 mi3$641,649$171,750$213,883
56623Baudette, MN 5662350.9 mi24$6,489,240$249,000$270,385
56761Wannaska, MN 5676162.1 mi3$772,401$267,400$257,467
56629Birchdale, MN 5662964.2 mi1$299,000$299,000$299,000
56654Loman, MN 5665471.3 mi1$459,000$459,000$459,000
56685Waskish, MN 5668575.6 mi3$1,649,700$549,900$549,900
56627Big Falls, MN 5662785.6 mi1$155,000$155,000$155,000
, 0.0 mi0$0$0$0

Frequently Asked Questions

How many homes are for sale in OAK ISLAND, MN 56741?

As of January 2026, there are 2 active listings in OAK ISLAND, MN (zip code 56741), compared to 2 the prior year.

What is the median home price in OAK ISLAND, MN 56741?

The median listing price in OAK ISLAND, MN 56741 is $537,000 as of January 2026, a 2.5% increase from $524,000 the prior year.

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

Homes in OAK ISLAND, MN 56741 spend an average of 130 days on the market before going under contract, compared to 184 days the prior year.

Is it a seller's or buyer's market in OAK ISLAND, MN 56741?

Based on current inventory and days-on-market data as of January 2026, OAK ISLAND, MN 56741 is currently a Balanced Market. Inventory levels are unchanged compared to last year. Homes are selling faster, averaging 130 days on market compared to 184 days last year.

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

With SELL123.com's maximum 3% commission, sellers in OAK ISLAND, MN 56741 save an estimated $10,740 compared to a typical 5% commission on the median listing price of $537,000. 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.