Is Tofte, MN 55615 a buyer’s or seller’s market?
Tofte is a seller’s market. With about 3.2 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 Tofte housing market right now
In the three months ending August 31, 2026, 0% of homes in Tofte, MN 55615 sold above their list price, the typical home went under contract in 15 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 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 38%, homes sold faster (47 days then) and the median sale price fell 18% to $362,343. Overall, Tofte is less competitive than a year ago, which gives buyers more room.
Nearby, Grand Marais 55604 (24% sold over asking) and Lutsen 55612 (11% sold over asking) are even more competitive.
Run the numbers for 55615
Nearby markets
Grand Marais 55604Balanced $369 /sq ftHovland 55606 — /sq ftLutsen 55612Buyer’s market $378 /sq ftSchroeder 55613 — /sq ft Browse all markets →Where Tofte is
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Questions about Tofte real estate
Is Tofte a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Tofte, MN 55615 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 Tofte?
The typical home went under contract in 15 days in the latest three months.
Do homes in Tofte sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.7% of the list price.
What are property taxes in Tofte?
About 0.69% of a home’s value a year in Cook County, or roughly $2,760 on a $400,000 home.
What is the median home price in Tofte?
The median sale price was $362,343 in the three months ending August 31, 2026, about $451 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