Is Pipestone, MN 56164 a buyer’s or seller’s market?
Pipestone is a buyer’s market. With about 7 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 7% of U.S. ZIP codes, and #291 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 Pipestone housing market right now
In the three months ending August 31, 2026, 6% of homes in Pipestone, MN 56164 sold above their list price, the typical home went under contract in 66 days and there were 7 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 16 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 22%, homes sold more slowly (41 days then) and the median sale price rose 41% to $247,393. Overall, Pipestone is less competitive than a year ago, which gives buyers more room.
On our competition score, Pipestone ranks #291 of 296 MN ZIP codes with enough sales (score 14 out of 100).
Nearby, buyers who want less competition could look at Holland 56139 (0% sold over asking), while Edgerton 56128 (100% sold over asking) is even more competitive.
Run the numbers for 56164
Nearby markets
Edgerton 56128Buyer’s market $110 /sq ftHolland 56139Seller’s market $166 /sq ftRuthton 56170 — /sq ftWoodstock 56186 — /sq ft Browse all markets →Towns like Pipestone nearby
Find towns like Pipestone in other states →Where Pipestone is
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Questions about Pipestone real estate
Is Pipestone a buyer’s or seller’s market?
A buyer’s market: there were 7 months of supply in Pipestone, MN 56164 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 Pipestone?
The typical home went under contract in 66 days in the latest three months.
Do homes in Pipestone sell over asking?
6% 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 Pipestone?
About 0.86% of a home’s value a year in Pipestone County, or roughly $3,440 on a $400,000 home.
What is the median home price in Pipestone?
The median sale price was $247,393 in the three months ending August 31, 2026, about $146 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