Is New Richland, MN 56072 a buyer’s or seller’s market?
New Richland is a seller’s market. With about 2.1 months of supply and 29% 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.
More competitive than 63% of U.S. ZIP codes, and #194 of 307 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The New Richland housing market right now
In the three months ending August 31, 2026, 29% of homes in New Richland, MN 56072 sold above their list price, the typical home went under contract in 31 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 40%, homes sold faster (69 days then) and the median sale price fell 30% to $206,361. Overall, New Richland is about as competitive as it was a year ago.
Nearby, buyers who want less competition could look at Waldorf 56091 (0% sold over asking) or Waseca 56093 (24% sold over asking), while Janesville 56048 (56% sold over asking) is even more competitive.
Run the numbers for 56072
Nearby markets
Janesville 56048Seller’s market $159 /sq ftWaldorf 56091Seller’s market $108 /sq ftWaseca 56093Seller’s market $144 /sq ft Browse all markets →Towns like New Richland nearby
Find towns like New Richland in other states →Where New Richland is
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Questions about New Richland real estate
Is New Richland a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in New Richland, MN 56072 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 New Richland?
The typical home went under contract in 31 days in the latest three months.
Do homes in New Richland sell over asking?
29% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.
What are property taxes in New Richland?
About 1.18% of a home’s value a year in Waseca County, or roughly $4,720 on a $400,000 home.
What is the median home price in New Richland?
The median sale price was $206,361 in the three months ending August 31, 2026, about $142 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