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All market snapshots / 56501

Detroit Lakes, MN 56501 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Detroit Lakes, MN inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.09
ActiveActive listings: 6464PendingPending sales: 66
Detroit Lakes, 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): $440k$440kSoldMedian sold price (last 6 months): $379k$379k
What homes actually sell for in Detroit Lakes, MN
Distribution of 178 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $268k to $550k
$108k to $266k: 37 sales$108k$266k to $423k: 59 sales59sales$423k to $580k: 35 sales$423k$580k to $738k: 15 sales$738k to $895k: 8 sales$738k$895k to $1.05M: 4 sales$1.05M to $1.21M: 2 sales$1.05M$1.21M to $1.37M: 2 salesMedian $379k

What the numbers say

As of October 5, 2026, Resideline is tracking 64 active listings and 6 pending sales in ZIP code 56501. That pending-to-active ratio of 0.09 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $439,950, while the median of the 178 closed sales Resideline tracked over the last six months was $379,000. 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 56501 for 74 days.

Frequently asked questions

What is the median home price in 56501?

The median closed sale price in Detroit Lakes, MN 56501 was $379,000 over the last six months, based on 178 closed sales tracked by Resideline. The middle half of those sales ranged from $268,500 to $550,000.

Is 56501 a buyer's or seller's market?

Resideline is currently tracking 6 pending sales against 64 active listings in 56501, a pending-to-active ratio of 0.09. 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, 56501 currently looks like a balanced market.

Nearby ZIP code market data

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