Is Granite Falls, MN 56241 a buyer’s or seller’s market?
Granite Falls is a seller’s market. With about 2.5 months of supply and 8% 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 Granite Falls housing market right now
In the three months ending August 31, 2026, 8% of homes in Granite Falls, MN 56241 sold above their list price, the typical home went under contract in 43 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 13%, homes sold more slowly (20 days then) and the median sale price rose 28% to $187,419. Overall, Granite Falls is less competitive than a year ago, which gives buyers more room.
Nearby, buyers who want less competition could look at Wood Lake 56297 (0% sold over asking) or Clarkfield 56223 (0% sold over asking), while Canby 56220 (25% sold over asking) is even more competitive.
Run the numbers for 56241
Nearby markets
Canby 56220Buyer’s market $80 /sq ftClarkfield 56223Buyer’s market $74 /sq ftEcho 56237 — /sq ftTaunton 56291 — /sq ft Browse all markets →Towns like Granite Falls nearby
Find towns like Granite Falls in other states →Where Granite Falls is
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Questions about Granite Falls real estate
Is Granite Falls a buyer’s or seller’s market?
A seller’s market: there were 2.5 months of supply in Granite Falls, MN 56241 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 Granite Falls?
The typical home went under contract in 43 days in the latest three months.
Do homes in Granite Falls sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 93.0% of the list price.
What are property taxes in Granite Falls?
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 Granite Falls?
The median sale price was $187,419 in the three months ending August 31, 2026, about $113 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