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Farmington, MN 55024 Housing Market

Data snapshot: October 26, 2026. Closed-sale window: last 6 months.
Farmington, MN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.10
ActiveActive listings: 5050PendingPending sales: 55
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): $450k$450kSoldMedian sold price (last 6 months): $400k$400k
What homes actually sell for in Farmington, MN
Distribution of 380 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $325k to $495k
$225k to $278k: 47 sales$225k$278k to $331k: 38 sales$331k to $384k: 66 sales66sales$331k$384k to $437k: 62 sales$437k to $491k: 53 sales$437k$491k to $544k: 43 sales$544k to $597k: 22 sales$544k$597k to $650k: 11 salesMedian $400k

What the numbers say

As of October 26, 2026, Resideline is tracking 50 active listings and 5 pending sales in ZIP code 55024. That pending-to-active ratio of 0.10 makes it a typical-pace market: listings are going under contract at about the pace of most ZIP codes Resideline tracks.

The median asking price of current listings is $449,500, while the median of the 380 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 71 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 380 closed sales tracked by Resideline. The middle half of those sales ranged from $325,000 to $495,000.

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

Resideline is currently tracking 5 pending sales against 50 active listings in 55024, a pending-to-active ratio of 0.10. Resideline tracks a sample of pending sales, so the ratio is most useful as a comparison: across the 3,777 ZIP codes Resideline tracks, the middle half run from 0.05 to 0.11. A higher ratio means listings go under contract faster, which usually favors sellers; a lower one gives buyers more room. By that comparison, 55024 is currently a typical-pace market.

Nearby ZIP code market data

Full Farmington, MN housing market report →

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