Is Mankato, MN 56001 a buyer’s or seller’s market?

The Mankato housing market right now

In the three months ending August 31, 2026, 21% of homes in Mankato, MN 56001 sold above their list price, the typical home went under contract in 28 days and there were 3.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 140 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 40%, homes sold more slowly (21 days then) and the median sale price rose 2% to $306,367. Overall, Mankato is less competitive than a year ago, which gives buyers more room.

Within Blue Earth County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell less often over asking than in 60%. On our competition score, Mankato ranks #239 of 296 MN ZIP codes with enough sales (score 48 out of 100).

Nearby, buyers who want less competition could look at Pemberton 56078 (0% sold over asking) or Good Thunder 56037 (0% sold over asking), while Lake Crystal 56055 (86% sold over asking) and Saint Clair 56080 (67% sold over asking) are even more competitive.