Is Ellendale, MN 56026 a buyer’s or seller’s market?
Ellendale is a balanced market. With about 5.6 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Ellendale housing market right now
In the three months ending August 31, 2026, 0% of homes in Ellendale, MN 56026 sold above their list price, the typical home went under contract in 58 days and there were 5.6 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 4 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 60%, homes sold more slowly (20 days then) and the median sale price rose 12% to $297,371. Overall, Ellendale is less competitive than a year ago, which gives buyers more room.
Nearby, Medford 55049 (63% sold over asking) and Blooming Prairie 55917 (55% sold over asking) are even more competitive.
Run the numbers for 56026
Nearby markets
Blooming Prairie 55917Seller’s market $180 /sq ftMedford 55049Seller’s market $166 /sq ftOwatonna 55060Seller’s market $159 /sq ft Browse all markets →Towns like Ellendale nearby
Find towns like Ellendale in other states →Where Ellendale is
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Questions about Ellendale real estate
Is Ellendale a buyer’s or seller’s market?
A balanced market: there were 5.6 months of supply in Ellendale, MN 56026 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 Ellendale?
The typical home went under contract in 58 days in the latest three months.
Do homes in Ellendale sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.
What are property taxes in Ellendale?
About 1.21% of a home’s value a year in Steele County, or roughly $4,840 on a $400,000 home.
What is the median home price in Ellendale?
The median sale price was $297,371 in the three months ending August 31, 2026, about $181 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