Is Fairmont, MN 56031 a buyer’s or seller’s market?

The Fairmont housing market right now

In the three months ending August 31, 2026, 13% of homes in Fairmont, MN 56031 sold above their list price, the typical home went under contract in 39 days and there were 3.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 48 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 26%, homes sold more slowly (15 days then) and the median sale price rose 3% to $185,920. Overall, Fairmont is less competitive than a year ago, which gives buyers more room.

Within Martin County, homes here sell faster than in 56% of the county’s ZIP codes, and sell more often over asking than in 56%. On our competition score, Fairmont ranks #257 of 296 MN ZIP codes with enough sales (score 39 out of 100).

Nearby, buyers who want less competition could look at Trimont 56176 (0% sold over asking) or Ormsby 56162 (0% sold over asking), while Ceylon 56121 (33% sold over asking) and Sherburn 56171 (25% sold over asking) are even more competitive.