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Farmington, MN 55024 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Farmington, MN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.16
ActiveActive listings: 5555PendingPending sales: 99
Farmington, MN: what sellers ask vs what buyers pay
Median asking price of current listings vs median closed sale price over the last six months
AskingMedian asking price (current listings): $390k$390kSoldMedian sold price (last 6 months): $400k$400k
What homes actually sell for in Farmington, MN
Distribution of 386 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $315k to $495k
$215k to $270k: 49 sales$215k$270k to $324k: 36 sales$324k to $378k: 65 sales65sales$324k$378k to $433k: 59 sales$433k to $487k: 57 sales$433k$487k to $541k: 49 sales$541k to $596k: 20 sales$541k$596k to $650k: 11 salesMedian $400k

What the numbers say

As of October 5, 2026, Resideline is tracking 55 active listings and 9 pending sales in ZIP code 55024. That pending-to-active ratio of 0.16 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $389,900, while the median of the 386 closed sales Resideline tracked over the last six months was $400,000. Those two figures describe different sets of homes, so any gap between them reflects the mix of what is listed now versus what recently sold, not a negotiating discount. Resideline has been seeing the median active listing in 55024 for 53 days.

Frequently asked questions

What is the median home price in 55024?

The median closed sale price in Farmington, MN 55024 was $400,000 over the last six months, based on 386 closed sales tracked by Resideline. The middle half of those sales ranged from $315,000 to $495,000.

Is 55024 a buyer's or seller's market?

Resideline is currently tracking 9 pending sales against 55 active listings in 55024, a pending-to-active ratio of 0.16. Ratios of 0.6 or higher usually indicate a seller's market, 0.35 to 0.6 a competitive market, and lower values a more balanced one. By that yardstick, 55024 currently looks like a balanced market.

Nearby ZIP code market data

Full Farmington, MN housing market report →

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