Is Truman, MN 56088 a buyer’s or seller’s market?
Truman is a seller’s market. With about 2.1 months of supply and 17% 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 Truman housing market right now
In the three months ending August 31, 2026, 17% of homes in Truman, MN 56088 sold above their list price, the typical home went under contract in 47 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. 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 0%, homes sold faster (51 days then) and the median sale price rose 26% to $159,381. Overall, Truman is more competitive than a year ago, so tougher for buyers.
Within Martin County, homes here sell more slowly than in 56% of the county’s ZIP codes, and sell more often over asking than in 67%.
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.
Run the numbers for 56088
Nearby markets
Ceylon 56121Balanced $49 /sq ftDunnell 56127Balanced $91 /sq ftFairmont 56031Seller’s market $111 /sq ftGranada 56039Seller’s market $140 /sq ft Browse all markets →Towns like Truman nearby
Find towns like Truman in other states →Where Truman is
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Questions about Truman real estate
Is Truman a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Truman, MN 56088 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 Truman?
The typical home went under contract in 47 days in the latest three months.
Do homes in Truman sell over asking?
17% of homes sold above their original list price, and the typical sale closed at 97.0% of the list price.
What are property taxes in Truman?
About 1.02% of a home’s value a year in Martin County, or roughly $4,080 on a $400,000 home.
What is the median home price in Truman?
The median sale price was $159,381 in the three months ending August 31, 2026, about $77 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