Is New Ulm, MN 56073 a buyer’s or seller’s market?
New Ulm is a seller’s market. With about 2.4 months of supply and 40% 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 82% of U.S. ZIP codes, and #81 of 296 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 August 31, 2026. See the breakdown
The New Ulm housing market right now
In the three months ending August 31, 2026, 40% of homes in New Ulm, MN 56073 sold above their list price, the typical home went under contract in 15 days and there were 2.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 55 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 32%, homes sold faster (28 days then) and the median sale price held steady to $258,888. Overall, New Ulm is more competitive than a year ago, so tougher for buyers.
Within Brown County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 75%. On our competition score, New Ulm ranks #81 of 296 MN ZIP codes with enough sales (score 77 out of 100).
Nearby, buyers who want less competition could look at Comfrey 56019 (0% sold over asking) or Springfield 56087 (13% sold over asking), while Sleepy Eye 56085 (47% sold over asking) is even more competitive.
Run the numbers for 56073
Nearby markets
Comfrey 56019Seller’s market $98 /sq ftHanska 56041Seller’s market $151 /sq ftSleepy Eye 56085Seller’s market $106 /sq ftSpringfield 56087Seller’s market $92 /sq ft Browse all markets →Towns like New Ulm nearby
Find towns like New Ulm in other states →Where New Ulm is
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Questions about New Ulm real estate
Is New Ulm a buyer’s or seller’s market?
A seller’s market: there were 2.4 months of supply in New Ulm, MN 56073 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 Ulm?
The typical home went under contract in 15 days in the latest three months.
Do homes in New Ulm sell over asking?
40% of homes sold above their original list price, and the typical sale closed at 99.7% of the list price.
What are property taxes in New Ulm?
About 1.03% of a home’s value a year in Brown County, or roughly $4,120 on a $400,000 home.
What is the median home price in New Ulm?
The median sale price was $258,888 in the three months ending August 31, 2026, about $140 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