Is Albert Lea, MN 56007 a buyer’s or seller’s market?

The Albert Lea housing market right now

In the three months ending August 31, 2026, 22% of homes in Albert Lea, MN 56007 sold above their list price, the typical home went under contract in 36 days and there were 3.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 80 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 14%, homes sold more slowly (33 days then) and the median sale price fell 9% to $179,122. Overall, Albert Lea is more competitive than a year ago, so tougher for buyers.

Within Freeborn County, homes here sell more slowly than in 57% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Albert Lea ranks #249 of 296 MN ZIP codes with enough sales (score 44 out of 100).

Nearby, buyers who want less competition could look at Hollandale 56045 (0% sold over asking) or Hartland 56042 (0% sold over asking), while Glenville 56036 (50% sold over asking) and Hayward 56043 (50% sold over asking) are even more competitive.