Is Nicollet, MN 56074 a buyer’s or seller’s market?
Nicollet is a seller’s market. With about 0.5 months of supply and 33% 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 Nicollet housing market right now
In the three months ending August 31, 2026, 33% of homes in Nicollet, MN 56074 sold above their list price, the typical home went under contract in 36 days and there were 0.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 29%, homes sold more slowly (20 days then) and the median sale price rose 13% to $379,836. Overall, Nicollet is about as competitive as it was a year ago.
Within Nicollet County, homes here sell more slowly than in any other ZIP code in the county, and sell more often over asking than in 75%.
Nearby, buyers who want less competition could look at Lafayette 56054 (0% sold over asking) or Mankato 56003 (19% sold over asking).
Run the numbers for 56074
Nearby markets
Courtland 56021Seller’s market $140 /sq ftLafayette 56054Buyer’s market $93 /sq ftMankato 56003Seller’s market $162 /sq ftSaint Peter 56082Seller’s market $169 /sq ft Browse all markets →Towns like Nicollet nearby
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Questions about Nicollet real estate
Is Nicollet a buyer’s or seller’s market?
A seller’s market: there were 0.5 months of supply in Nicollet, MN 56074 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 Nicollet?
The typical home went under contract in 36 days in the latest three months.
Do homes in Nicollet sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 99.4% of the list price.
What are property taxes in Nicollet?
About 1.13% of a home’s value a year in Nicollet County, or roughly $4,520 on a $400,000 home.
What is the median home price in Nicollet?
The median sale price was $379,836 in the three months ending August 31, 2026, about $160 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