Is Ormsby, MN 56162 a buyer’s or seller’s market?
Ormsby is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Ormsby housing market right now
In the three months ending August 31, 2026, 0% of homes in Ormsby, MN 56162 sold above their list price and the typical home went under contract in 101 days. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (74 days then) and the median sale price fell 20% to $89,961. Overall, Ormsby is less competitive than a year ago, which gives buyers more room.
Within Martin County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Ceylon 56121 (33% sold over asking) and Sherburn 56171 (25% sold over asking) are even more competitive.
Run the numbers for 56162
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 →Where Ormsby is
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Questions about Ormsby real estate
How fast do homes sell in Ormsby?
The typical home went under contract in 101 days in the latest three months.
Do homes in Ormsby sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 86.5% of the list price.
What are property taxes in Ormsby?
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 Ormsby?
The median sale price was $89,961 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