Is Fairfax, MN 55332 a buyer’s or seller’s market?
Fairfax is a seller’s market. With about 1.9 months of supply and 0% 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 Fairfax housing market right now
In the three months ending August 31, 2026, 0% of homes in Fairfax, MN 55332 sold above their list price, the typical home went under contract in 42 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 33%, homes sold more slowly (25 days then) and the median sale price rose 41% to $155,433. Overall, Fairfax is less competitive than a year ago, which gives buyers more room.
Within Renville County, homes here sell faster than in 71% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Morton 56270 (50% sold over asking) and Olivia 56277 (33% sold over asking) are even more competitive.
Run the numbers for 55332
Nearby markets
Bird Island 55310Buyer’s market $113 /sq ftBuffalo Lake 55314Seller’s market $243 /sq ftDanube 56230 — /sq ftFranklin 55333 — /sq ft Browse all markets →Towns like Fairfax nearby
Find towns like Fairfax in other states →Where Fairfax is
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Questions about Fairfax real estate
Is Fairfax a buyer’s or seller’s market?
A seller’s market: there were 1.9 months of supply in Fairfax, MN 55332 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 Fairfax?
The typical home went under contract in 42 days in the latest three months.
Do homes in Fairfax sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 91.1% of the list price.
What are property taxes in Fairfax?
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 Fairfax?
The median sale price was $155,433 in the three months ending August 31, 2026, about $92 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