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Is Canby, MN 56220 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Canby is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply6.4Under 4 months = seller’s market
Sold above original list25%Share of sales, last 3 months
Median sale-to-list94.9%Sold price ÷ list price
Median days on market63Listing to accepted offer
Median price per sq ft$80▼ −5.2% vs. last year

The Canby housing market right now

In the three months ending August 31, 2026, 25% of homes in Canby, MN 56220 sold above their list price, the typical home went under contract in 63 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 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 more slowly (31 days then) and the median sale price fell 44% to $114,900. Overall, Canby is more competitive than a year ago, so tougher for buyers.

Nearby, buyers who want less competition could look at Wood Lake 56297 (0% sold over asking) or Clarkfield 56223 (0% sold over asking).

Run the numbers for 56220

Prefilled for 56220Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56220Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Clarkfield 56223Buyer’s market $74 /sq ftEcho 56237 — /sq ftGranite Falls 56241Seller’s market $113 /sq ftTaunton 56291 — /sq ft Browse all markets →

Towns like Canby nearby

Find towns like Canby in other states →
Lake Benton, MN56149 · 31 miles away90% similarsmaller Granite Falls, MN56241 · 36 miles away86% similarlarger Ivanhoe, MN56142 · 18 miles away85% similarcheaper homes ($54K less) · smaller Dawson, MN56232 · 18 miles away84% similar7 min shorter commute

Where Canby is

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Questions about Canby real estate

Is Canby a buyer’s or seller’s market?

A buyer’s market: there were 6.4 months of supply in Canby, MN 56220 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 Canby?

The typical home went under contract in 63 days in the latest three months.

Do homes in Canby sell over asking?

25% of homes sold above their original list price, and the typical sale closed at 94.9% of the list price.

What are property taxes in Canby?

About 1.04% of a home’s value a year in Yellow Medicine County, or roughly $4,160 on a $400,000 home.

What is the median home price in Canby?

The median sale price was $114,900 in the three months ending August 31, 2026, about $80 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