Is Cannon Falls, MN 55009 a buyer’s or seller’s market?
Cannon Falls is a buyer’s market. With about 6.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 67% of U.S. ZIP codes, and #168 of 307 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Cannon Falls housing market right now
In the three months ending August 31, 2026, 29% of homes in Cannon Falls, MN 55009 sold above their list price, the typical home went under contract in 25 days and there were 6.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 15%, homes sold faster (35 days then) and the median sale price rose 46% to $472,296. Overall, Cannon Falls is more competitive than a year ago, so tougher for buyers.
Within Goodhue County, homes here sell faster than in 75% of the county’s ZIP codes, and sell less often over asking than in 56%.
Nearby, buyers who want less competition could look at Welch 55089 (0% sold over asking) or Frontenac 55026 (0% sold over asking), while Dennison 55018 (50% sold over asking) and Goodhue 55027 (43% sold over asking) are even more competitive.
Run the numbers for 55009
Nearby markets
Dennison 55018Balanced $298 /sq ftFrontenac 55026Seller’s market $242 /sq ftGoodhue 55027Seller’s market $219 /sq ftKenyon 55946Seller’s market $178 /sq ft Browse all markets →Towns like Cannon Falls nearby
Find towns like Cannon Falls in other states →Where Cannon Falls is
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Questions about Cannon Falls real estate
Is Cannon Falls a buyer’s or seller’s market?
A buyer’s market: there were 6.2 months of supply in Cannon Falls, MN 55009 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cannon Falls?
The typical home went under contract in 25 days in the latest three months.
Do homes in Cannon Falls sell over asking?
29% of homes sold above their original list price, and the typical sale closed at 98.9% of the list price.
What are property taxes in Cannon Falls?
About 1.05% of a home’s value a year in Goodhue County, or roughly $4,200 on a $400,000 home.
What is the median home price in Cannon Falls?
The median sale price was $472,296 in the three months ending August 31, 2026, about $208 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology