Is Forbes, MN 55738 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Forbes 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 Forbes housing market right now

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

About the area

St. Louis County, MN

Population	599
Median income	$82,969
Average income	$94,940
Median home value	$167,400
Owner-occupied	97% of homes
Median year built	1973

Natural hazard riskWinter storms (very high), extreme heat (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 55738; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 55738

Prefilled for 55738Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55738Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Alborn 55702 — /sq ft Angora 55703Buyer’s market $121 /sq ft Aurora 55705Balanced $129 /sq ft Babbitt 55706Seller’s market $91 /sq ft Browse all markets →

Where Forbes is

Loading map…

Questions about Forbes real estate

What are property taxes in Forbes?

About 1.03% of a home’s value a year in St. Louis County, or roughly $4,120 on a $400,000 home.

Local agents

See all agents in 55738 →

No sponsored agents in 55738 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 55738

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value St. Louis County property taxes St. Louis County loan limits Closing costs in Minnesota Hottest ZIP codes in Minnesota

Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

JavaScript (recommended) iframe only

<div class="offerbacked-widget" data-widget="zip" data-zip="55738"><a href="https://offerbacked.com/market/55738">Forbes, MN 55738 housing market data from OfferBacked</a></div>
<script async src="https://offerbacked.com/widget.js"></script>

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview Dark version

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