Is Buffalo Lake, MN 55314 a buyer’s or seller’s market?
Buffalo Lake is a seller’s market. With about 3.2 months of supply and 20% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Buffalo Lake housing market right now
In the three months ending August 31, 2026, 20% of homes in Buffalo Lake, MN 55314 sold above their list price, the typical home went under contract in 45 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (18 days then) and the median sale price rose 54% to $299,870. Overall, Buffalo Lake is more competitive than a year ago, so tougher for buyers.
Within Renville County, homes here sell faster than in 57% of the county’s ZIP codes, and sell more often over asking than in 71%.
Nearby, buyers who want less competition could look at Sacred Heart 56285 (0% sold over asking) or Renville 56284 (0% sold over asking), while Morton 56270 (50% sold over asking) and Olivia 56277 (33% sold over asking) are even more competitive.
Run the numbers for 55314
Nearby markets
Bird Island 55310Buyer’s market $113 /sq ftDanube 56230 — /sq ftFairfax 55332Seller’s market $92 /sq ftFranklin 55333 — /sq ft Browse all markets →Towns like Buffalo Lake nearby
Find towns like Buffalo Lake in other states →Where Buffalo Lake is
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Questions about Buffalo Lake real estate
Is Buffalo Lake a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Buffalo Lake, MN 55314 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 Buffalo Lake?
The typical home went under contract in 45 days in the latest three months.
Do homes in Buffalo Lake sell over asking?
20% of homes sold above their original list price, and the typical sale closed at 99.2% of the list price.
What are property taxes in Buffalo Lake?
About 1.04% of a home’s value a year in Renville County, or roughly $4,160 on a $400,000 home.
What is the median home price in Buffalo Lake?
The median sale price was $299,870 in the three months ending August 31, 2026, about $243 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