Is Elmore, MN 56027 a buyer’s or seller’s market?
Elmore is a seller’s market. With about 1.6 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 Elmore housing market right now
In the three months ending August 31, 2026, 0% of homes in Elmore, MN 56027 sold above their list price, the typical home went under contract in 45 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 2 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 50%, homes sold faster (53 days then) and the median sale price fell 37% to $44,981. Overall, Elmore is less competitive than a year ago, which gives buyers more room.
Within Faribault County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Winnebago 56098 (67% sold over asking) and Blue Earth 56013 (13% sold over asking) are even more competitive.
Run the numbers for 56027
Nearby markets
Blue Earth 56013Seller’s market $103 /sq ftBricelyn 56014Seller’s market $103 /sq ftDelavan 56023 — /sq ftEaston 56025 $129 /sq ft Browse all markets →Where Elmore is
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Questions about Elmore real estate
Is Elmore a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Elmore, MN 56027 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 Elmore?
The typical home went under contract in 45 days in the latest three months.
Do homes in Elmore sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 82.8% of the list price.
What are property taxes in Elmore?
About 0.99% of a home’s value a year in Faribault County, or roughly $3,960 on a $400,000 home.
What is the median home price in Elmore?
The median sale price was $44,981 in the three months ending August 31, 2026, about $35 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