Is Knife River, MN 55609 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Knife River is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Knife River housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Lake County, MN

Population	131
Median income	$78,208
Average income	$62,496
Owner-occupied	100% of homes
Median year built	1977

Natural hazard riskWinter storms (very high), hail (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 55609; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 55609

Prefilled for 55609Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55609Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Beaver Bay 55601 — /sq ft Ely 55731Buyer’s market $274 /sq ft Finland 55603Buyer’s market $333 /sq ft Isabella 55607Buyer’s market $172 /sq ft Browse all markets →

Where Knife River is

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Questions about Knife River real estate

What are property taxes in Knife River?

About 0.73% of a home’s value a year in Lake County, or roughly $2,920 on a $400,000 home.

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More tools for 55609

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology