Is Faribault, MN 55021 a buyer’s or seller’s market?

The Faribault housing market right now

In the three months ending August 31, 2026, 17% of homes in Faribault, MN 55021 sold above their list price, the typical home went under contract in 29 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 106 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 27%, homes sold faster (31 days then) and the median sale price fell 3% to $302,869. Overall, Faribault is less competitive than a year ago, which gives buyers more room.

Within Rice County, homes here sell more slowly than in 86% of the county’s ZIP codes, and sell less often over asking than in 71%. On our competition score, Faribault ranks #234 of 296 MN ZIP codes with enough sales (score 50 out of 100).

Nearby, buyers who want less competition could look at Webster 55088 (0% sold over asking) or Nerstrand 55053 (0% sold over asking), while Warsaw 55087 (100% sold over asking) and Dundas 55019 (50% sold over asking) are even more competitive.