Is Hamel, MN 55340 a buyer’s or seller’s market?

The Hamel housing market right now

In the three months ending August 31, 2026, 23% of homes in Hamel, MN 55340 sold above their list price, the typical home went under contract in 47 days and there were 2.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 90 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 14%, homes sold more slowly (35 days then) and the median sale price rose 34% to $799,654. Overall, Hamel is more competitive than a year ago, so tougher for buyers.

Within Hennepin County, homes here sell more slowly than in 92% of the county’s ZIP codes, and sell less often over asking than in 79%. On our competition score, Hamel ranks #240 of 296 MN ZIP codes with enough sales (score 48 out of 100).

Nearby, buyers who want less competition could look at Minneapolis 55454 (0% sold over asking) or Minneapolis 55403 (6% sold over asking), while Minneapolis 55406 (59% sold over asking) and Minneapolis 55441 (58% sold over asking) are even more competitive.